One of the City’s biggest spread betting firms has posted a rise in annual profits after a surge in trading activity that drove it to a record fourth quarter.
IG Group reported a 52 per cent rise in pre-tax profits to £295.9 million on net trading revenues that increased by 36 per cent to £649.2 million in the year to the end of May.
It said that the final three months of the year had been “exceptional” after Covid-19 triggered high levels of market volatility that encouraged new customers to trade. The number of active clients at the group rose by 34 per cent to 239,600 during the 12 months. IG paid £44.3 million in bonuses to staff as a result of its target-beating performance,