IG Group Sees Solid Revenues in Q3 of FY2020, Buoyed by COVID-19

IG Group Holdings plc has published its financial results for the third quarter of its financial year ending on the 31st of May, 2020, this Thursday, revealing a strong performance during the period.
The third quarter of IG Group’s fiscal 2020 is the three months to the 29th of February 2020. Overall, this period delivered a solid performance, with client activity increasing, especially in the final week of February, the company said.
For the third quarter of fiscal 2020, revenue was £139.8 million. This represents a growth of 29 per cent when measured against . Not only that, but it is the strongest quarterly revenue since the implementation of ESMA’s product intervention measures in August of 2018, and the third-highest quarterly revenue in the Group’s history.
During the period, IG Group served 101,700 over the counter (OTC) leveraged active clients in the quarter. This is higher by 21 per cent year-on-year. The average OTC leveraged revenue per client also managed to rise in the quarter by 9 per cent, reaching £1,330.
High volatility continues into Q4 for IG Group
The high level of volatility which occurred in the final week of February has continued into March, the said in the statement. Already, in the first 12 trading days of the fourth quarter, revenue is estimated to be around £52 million.
“These are extraordinary times,” IG Group said in the statement. “This sustained level of volatility and revenue is unprecedented, and it is not possible to determine how long it will persist or how clients will continue to respond. 
“In addition, the actions of governments and regulators are not predictable, and the Group may face circumstances and events it has not previously anticipated.  It therefore remains difficult to predict accurately the level of revenue in the final quarter of this financial year.”