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IG Group Profit May Rise 25% on Currency Betting

June 9 (Bloomberg) -- IG Group Holdings Plc, owner of the IG Index financial spread-betting brand, said it expects full-year adjusted pretax profit will climb 25 percent as it benefited from volatility in foreign-exchange and stock markets.

So-called adjusted pretax profit will probably increase to about 157 million pounds ($227 million) in the year ended May 31, the London-based company said today in a Regulatory News Service statement. Sales will advance about 16 percent to 298 million pounds. The shares rose 10 percent.

Unpredictable movements in currencies helped lure existing clients to bet and trade more and helped IG gain new customers, the company said. IG’s Australian and European offices showed “strong growth,” with Germany leading gains in continental Europe.

“It remains difficult to predict future trends in volatility or customer reaction to changing market and economic conditions,” the company said in the statement. “Strong account opening and the continued development of the group’s offering leave the group well positioned for further growth.”

IG rose 39.6 pence to close at 431.8 pence in London. The shares have gained 14 percent this year, giving the company a market value of 1.56 billion pounds.

To contact the reporter on this story: David Altaner in London at daltaner@bloomberg.net

To contact the editor responsible for this story: Colin Keatinge in London at Ckeatinge@bloomberg.net

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