IG Group Holdings @ 444p, +11.6p (+2.68%)
IG came back to the market today to confirm its August statement that quarterly revenues are benefitting from the volatility in the markets. In fact the company bettered its estimate of £94m by achieving £100m in the period from the 1 June to the 12 September. This is 26% higher than the £79m achieved in the corresponding period last year.
With the exception of Japan and its closed sporting business all areas of the groups operations were significantly ahead of last year.
So despite the doomsayers there might just be some life left in this industry leading company with a strong balance sheet and 5% yield.
To date the portfolio's holding in IG has returned 47.57% in capital gains and a further 7.9% in dividends. Over 21 months this amounts to a healthy 55.47%.
As you would expect I continue to rate IG as a hold.
Interim Management Statement:
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