At 10:26am BST London IG Group Holdings PLC (LON:IGG) traded at 804.00p up 0.56% following its trading statement released today.
The group announced that it expects full year earnings to be slightly ahead of expectations ahead of the start of its new financial year that begins tomorrow on June 1st 2016.
It a brief trading update, the online trading company said it performed well during what was a relatively quiet fourth quarter of the year with all key operating and financial metrics remaining strong.
The company said it expects full-year earnings to be slightly ahead of expectations, as an increase in marketing spend is returning what it described as a ‘compelling result’.
IG said it is thanks to a “continued robust performance” and “ongoing strength in trading revenue”.
IG said:
“As outlined in the third quarter trading update, this continued robust performance has resulted in higher variable operating costs in the last part of the year, including an increase in online marketing spend, where the payback remains compelling,”
Further adding:
“This cost increase was more than offset by the ongoing strength in trading revenue, meaning the Company now expects full year earnings to be slightly ahead of expectations”
The company will publish its result for the year ended May 31 on Tuesday 19th July 2016
01/06/2016
