SPREAD betting firm IG Group is forecasting a 25% rise in full-year profits after recent stock market turbulence boosted business.
The group reported a surge in client activity and new account openings as investors sought to take advantage of heightened volatility in equity and currency markets caused by the eurozone debt crisis.
IG Group said revenues rose by 24% in its final quarter – putting it on course for annual underlying pre-tax profits of about £157m on sales 16% higher at an estimated £298m.
IG opened 21,500 accounts in the three months to May 31 against 18,750 seen a year earlier.
Sales in the UK were up by 8% at £162m – boosted by a 17% hike in the final three months of the year.