UK-based CFD and Forex broker, IG Group, has posted its full year results for the period ended May 31st, 2014. During the year, net trading revenue rose 2.4% to £370.4M with pre-tax profits edging 1.3% higher to £194.7M. The revenues marked a record for IG. The results translated into diluted earnings per share of 40.18p, calculating to a trailing PE of 14.3. Describing the year, IG called it a good year that was hampered by a “subdued backdrop” which occurred at the end of the reporting period. Back in May, the end of year decline in activity led IG to issue a forecast to investors that it would miss revenue expectations. However, despite the drop in client activity, IG reported that customer deposits rose 4% from last year and were at record levels.

Join the iFX EXPO Asia and discover your gateway to the Asian Markets

In operational results, IG added that they continue to make strong progress in their long- term strategy initiatives. Among examples highlighted was an upcoming expansion in Dubai and the almost completion of the process to receive a Swiss license. As reported in previous IG earnings posts, Europe has been a driver of growth for the broker, with revenues from the region rising 16% and now attributing to 22% of total revenues. The results from Europe compare to 3% growth from the UK and Ireland, 7% contraction in Australia, and a 10% decline in the Rest of World (ROW) segment.

In the news, shares of IG are down slightly more than 1% to 575p. Forex Magnates will be posting a more in-depth analysis of IG’s year and forecasts later in the day.