IG Group Holdings plc (LON:IGG), a global leader in online trading, today issued a trading update for the fourth quarter of its FY20 financial year and its financial year ending 31 May 2020, ahead of entering its close period.
The Group issued a Q4 trading update on 24 April 2020 which noted that quarter to date net trading revenue was estimated to be around £173 million. Financial market volatility has remained elevated and the Group has continued to see high levels of client trading activity. Net trading revenue in Q4 FY20 is now estimated to be approximately £259 million (Q4 FY19: £117.9 million), with full year net trading revenue anticipated to be approximately £649 million (FY19: £476.9 million).
As previously announced, the Group has successfully implemented its comprehensive business continuity plan in response to the COVID-19 virus. The Group’s ongoing investment in communications and infrastructure has enabled all employees to work safely from home, and IG will continue to invest in technology in order to provide the best possible service for our clients.
The Group will take a cautious approach in returning to its offices around the world, in keeping with the guidance of local governments, with the priority being the safety of its staff.
IG Group is scheduled to announce its full year results for FY20 on 23 July 2020.