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Here you will find detailed info about currency trading and Forex training, currency exchange and online Forex trading platform.IG Group FY Pretax Profit Seen +29% After 4Q Revenue Gains by The Wall Street Journal U.K.-based financial derivatives and sports betting company IG Group Holdings PLC (IGG.LN) Tuesday said it expects adjusted pretax profit to rise 29% in its fiscal full year following improved revenue


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IG Group FY Pretax Profit Seen +29% After 4Q Revenue Gains by The Wall Street Journal
U.K.-based financial derivatives and sports betting company IG Group Holdings PLC (IGG.LN) Tuesday said it expects adjusted pretax profit to rise 29% in its fiscal full year following improved revenue growth in the fourth quarter.

In the year to the end of May, it said pretax profit excluding amortization of intangibles was expected to rise to around GBP125 million from GBP97 million a year earlier. Revenue over the period is seen up almost 40% to GBP257 million from GBP184 million, the company said, despite a sharp decline in market volatility during the final quarter in its equity and forex businesses.

“These conditions encouraged greater client trading in equities, but would have been expected to produce some reduction in trading in equity indices and forex,” the company said. After taking steps to improve its competitive position in the quarter its forex performance was strong and activity in indices was similar to previous months, IG Group said.