Regulatory changes are set to hamper growth for a year before returning to normal.
IG Group, a retail brokerage powerhouse, published its Annual Report for the year ending May 31, 2018, on Monday. The firm, which has experienced a challenging past 18 months, has stated that this will continue into the 2019 fiscal year.
The annual report follows the announcement of its financial results for the last fiscal year. In July, when the results were published, we took an in-depth look at the report and highlighted some of the key points of the results for your convenience.
In the report, however, the key point is clear - in the 2019 fiscal year the company is expecting to see a drop in earnings. This is due to the implementation of the measures announced by the European Securities and Markets Authority (ESMA) in regards to contract-for-differences (CFDs) earlier this month.
The outlook for the 2019 fiscal year - decline in revenues, increase in costs
While the company stated that it is pleased that the nature and extent of the ESMA regulations in the UK and European Union (EU) are more clear, the broker yet again warned that it expects to lose approximately 10% of its revenue in the quarter following the implementation of the Regulation. Furthermore, the firm added that it expects its operating expenses, excluding variable remuneration to increased in the 2019 fiscal year.
According to the statement, the total operating costs in 2019 are expected to be similar to the 2018 total operating costs at £290.1 million ($370.5 million). Despite the firm being prepared to go through a lean 2019 fiscal year, it expects to maintain the 43.2 pence per share annual dividend.
Commenting on the annual report, Chairman of IG Group, Andy Green said: “The last 18 months have been a challenging period in our Company, but our operating and financial performance has been strong… the Company expects that its revenue in the 2019 financial year will be lower than in 2018, reflecting the impact of the regulatory changes in the UK and EU, and the Company expects to return to growth after the 2019 financial year..."
“In the medium term, I believe that the initiatives we are putting in place now, coupled with our people’s commitment to innovation and championing the client, will see IG extend its industry-leading position and become even stronger.”
IG Group, a retail brokerage powerhouse, published its Annual Report for the year ending May 31, 2018, on Monday. The firm, which has experienced a challenging past 18 months, has stated that this will continue into the 2019 fiscal year.
The annual report follows the announcement of its financial results for the last fiscal year. In July, when the results were published, we took an in-depth look at the report and highlighted some of the key points of the results for your convenience.
In the report, however, the key point is clear - in the 2019 fiscal year the company is expecting to see a drop in earnings. This is due to the implementation of the measures announced by the European Securities and Markets Authority (ESMA) in regards to contract-for-differences (CFDs) earlier this month.
The outlook for the 2019 fiscal year - decline in revenues, increase in costs
While the company stated that it is pleased that the nature and extent of the ESMA regulations in the UK and European Union (EU) are more clear, the broker yet again warned that it expects to lose approximately 10% of its revenue in the quarter following the implementation of the Regulation. Furthermore, the firm added that it expects its operating expenses, excluding variable remuneration to increased in the 2019 fiscal year.
According to the statement, the total operating costs in 2019 are expected to be similar to the 2018 total operating costs at £290.1 million ($370.5 million). Despite the firm being prepared to go through a lean 2019 fiscal year, it expects to maintain the 43.2 pence per share annual dividend.
Commenting on the annual report, Chairman of IG Group, Andy Green said: “The last 18 months have been a challenging period in our Company, but our operating and financial performance has been strong… the Company expects that its revenue in the 2019 financial year will be lower than in 2018, reflecting the impact of the regulatory changes in the UK and EU, and the Company expects to return to growth after the 2019 financial year..."
“In the medium term, I believe that the initiatives we are putting in place now, coupled with our people’s commitment to innovation and championing the client, will see IG extend its industry-leading position and become even stronger.”
Devexperts Teams Up with nuam Exchange to Boost Equity and Derivatives Trading
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.
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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
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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
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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
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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
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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.
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Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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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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