IG Group,South Africa,financial spreadbetting,H209,Ideal CFD Financial Services
IG Group's earnings before interest tax depreciation and amortisation (EBITDA) is up by more than a third, the spread betting company's half-year results reveal, and it has bought a new business in South Africa...
IG GROUP’S EARNINGS before interest tax depreciation and amortisation (EBITDA) is up by more than a third, the spread betting company’s half-year results reveal.
The results for the six month period ended 30 November 2009 show EBITDA up 34% at £81m (93.9m, $134.6m), from £60.2m in the same period in 2008, beating the 32% increase that IG predicted in December after strong growth in Australia, continental Europe and Singapore, as well as an increase in its UK customer base of 29%.
The growth reflected a strong EBITDA margin also up from last year, hitting 56.4% from 47.4% 12 months earlier, and trading revenue up 14% to £143.8m, from £126.4m.
Chief executive Tim Howkins said: “IG has again delivered record results with strong growth in both revenue and profits. We continue to experience strong levels of activity and account opening, both in the UK and overseas, where our expansion continues. All our markets have great potential and IG is well positioned to deliver further growth.”
Profit before tax rose by 34% in line with EBITDA to hit £78m, from £58.2.