During unfavorable market conditions, IG Group Holdings, a spread betting operator in London, has posted gains in its interim results for the six month period, which ended Nov. 30.
The group’s turnover was up 47 percent at £126.5 million, and its earnings before interest, taxes, depreciation and amortization was up 24 percent at £60.3 million.
“This growth was achieved against a backdrop of steadily worsening capital market and economic conditions worldwide and reflects the resilient nature of both our business model and our client base,” said Tim A. Howkins, the company’s chief executive, in a prepared statement. “Different aspects of our business are better suited to differing market conditions.”
Since global equities began to decline in 2007, IG Group’s shares business has been weaker, Mr. Howkins added. He explained current market conditions lend themselves very well to short-term trading on indices and currencies.
“Revenue from both these areas has grown very strongly, more than making up for the weakness in shares and, together with the impressive performance of our newer international operations, has enabled us to achieve continued strong organic growth,” he said.