Given that 2018 was a record year for IG Group, this loss actually isn’t as bad as it may seem.
IG Group has today published its interim results for the first half of its 2019 fiscal year ended November 30, 2018. As is the case with many brokers operating within the European Union (EU), IG Group felt the sting of the European Securities and Markets Authority (ESMA) regulation during the period.
During the first half of its 2019 fiscal year, IG Group reported a drop in net trading revenue of six percent year-on-year, falling from £268.4 million ($345.3 million) in the first half of 2018 down to £251.0 million.
Revenue is down, but it’s not all bad
As Finance Magnates previously reported, given that 2018 was a record year for IG Group, this loss actually isn’t as bad as it may seem. Considering the impact the new ESMA regulations have had on other brokers, IG Group actually did rather well.
Operating profit was also down, coming in at £112.5 million for the first half of the 2019 fiscal year. This is down by 18 percent when measured against H1 of 2018, which had an operating profit of £136.5 million.
Commenting on the results, June Felix, the Chief Executive Officer (CEO) of IG Group said: "The actions that have been taken over the last two years have resulted in the Company successfully navigating the introduction of the ESMA measures.
“At the same time the business has developed innovative new products, continued to on-board new, valuable clients, and has continued to deliver a high quality service. Our ability to do so reflects the quality of our people, our technology, and our approach to innovation… I am confident that the Company will, as previously guided, return to growth after FY19.”
IG Group expects to recover after its 2019 fiscal year
As IG Group has previously noted, the firm expects that its revenue in the 2019 fiscal year will be lower than 2018. This is both due to the impact of the ESMA measures and the strong performance of the company during the second half of 2018, which was buoyed by an uptick in interest in Cryptocurrencies.
In addition, the firm estimates that its total operating costs, which combines operating expenses plus variable remuneration, in the 2019 fiscal year, will be at a similar level to the total operating costs in the previous fiscal year (£290 million)
In the near future, IG Group is planning on launching new subsidiaries in the US and Europe. IG Europe (IGE), which is the Group’s client-facing subsidiary in Germany, is expected to launch at the end of this month. The Group’s US subsidiary (IG US), a retail foreign exchange (Forex) dealer, is also planned to begin operations by the end of January.
IG Group has today published its interim results for the first half of its 2019 fiscal year ended November 30, 2018. As is the case with many brokers operating within the European Union (EU), IG Group felt the sting of the European Securities and Markets Authority (ESMA) regulation during the period.
During the first half of its 2019 fiscal year, IG Group reported a drop in net trading revenue of six percent year-on-year, falling from £268.4 million ($345.3 million) in the first half of 2018 down to £251.0 million.
Revenue is down, but it’s not all bad
As Finance Magnates previously reported, given that 2018 was a record year for IG Group, this loss actually isn’t as bad as it may seem. Considering the impact the new ESMA regulations have had on other brokers, IG Group actually did rather well.
Operating profit was also down, coming in at £112.5 million for the first half of the 2019 fiscal year. This is down by 18 percent when measured against H1 of 2018, which had an operating profit of £136.5 million.
Commenting on the results, June Felix, the Chief Executive Officer (CEO) of IG Group said: "The actions that have been taken over the last two years have resulted in the Company successfully navigating the introduction of the ESMA measures.
“At the same time the business has developed innovative new products, continued to on-board new, valuable clients, and has continued to deliver a high quality service. Our ability to do so reflects the quality of our people, our technology, and our approach to innovation… I am confident that the Company will, as previously guided, return to growth after FY19.”
IG Group expects to recover after its 2019 fiscal year
As IG Group has previously noted, the firm expects that its revenue in the 2019 fiscal year will be lower than 2018. This is both due to the impact of the ESMA measures and the strong performance of the company during the second half of 2018, which was buoyed by an uptick in interest in Cryptocurrencies.
In addition, the firm estimates that its total operating costs, which combines operating expenses plus variable remuneration, in the 2019 fiscal year, will be at a similar level to the total operating costs in the previous fiscal year (£290 million)
In the near future, IG Group is planning on launching new subsidiaries in the US and Europe. IG Europe (IGE), which is the Group’s client-facing subsidiary in Germany, is expected to launch at the end of this month. The Group’s US subsidiary (IG US), a retail foreign exchange (Forex) dealer, is also planned to begin operations by the end of January.
Cheetah Fund Investors Lose $9 Million in Alleged Fraudulent Scheme
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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