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IG Group (IGG)

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idpickering
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Re: IG Group (IGG)

#314974

Postby idpickering » June 4th, 2020, 7:23 am

Pre Close Trading Update
Here https://www.investegate.co.uk/ig-group- ... 00038848O/

Also posted on HYP Practical for HYPer chat.

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Re: IG Group (IGG)

#340802

Postby idpickering » September 17th, 2020, 7:08 am

First Quarter Revenue Update

Business performance

The business performed very strongly throughout the first quarter, delivering net trading revenue of £209 million, 62% higher than the same period in the prior year (Q1 FY20: £129.1 million). Performance was driven by a combination of continued high levels of trading activity from existing clients and growth in the active client base, with 201,500 total active clients, up 50% on the prior year (Q1 FY20: 134,100); 134,800 clients traded OTC leveraged products in the quarter (Q1 FY20: 92,300).

· Q1 FY21 revenue in the Core Markets was £170.8 million, up 56% on the prior year (Q1 FY20: £109.4 million). Performance of the Retail client base in UK and Europe was particularly strong, with growth delivered in both revenue per client and number of active clients.

· Q1 FY21 revenue in the Significant Opportunities portfolio was £38.2 million, up 94% on the prior year (Q1 FY20: £19.7 million) and is on track to deliver the medium-term target of £100 million in revenue growth from this portfolio by the end of FY22.


https://www.investegate.co.uk/ig-group- ... 00032328Z/

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Re: IG Group (IGG)

#340995

Postby idpickering » September 17th, 2020, 4:24 pm

Results of AGM

The Board of IG Group Holdings plc (the "Company"), a global leader in online trading, is pleased to announce that at the Annual General Meeting of the Company held earlier today, all the resolutions proposed in the Notice of the Meeting were duly passed. A poll was conducted on each resolution proposed at the Meeting. The number of votes for and against each of the resolutions and the number of votes withheld were as follows:


https://www.investegate.co.uk/ig-group- ... 24083434Z/

idpickering
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Re: IG Group (IGG)

#350071

Postby idpickering » October 23rd, 2020, 12:17 pm

Response to ASIC Announcement

IG Group Holdings plc ("IG", "the Group", "the Company"), a global leader in online trading, notes that the Australian Securities and Investments Commission (ASIC) has today issued a statement (20-254 MR) following its consultation announced in August 2019 on product intervention measures relating to the provision of CFDs.

The measures, which will take effect from 29 March 2021 and apply to retail clients only, are broadly consistent with those proposed by ASIC in its initial consultation. The leverage restrictions are now in line with those already implemented by the European Securities and Markets Authority in August 2018.

As previously guided, these measures do not change the Group's financial targets of revenue growth in Core Markets of 3-5% over the medium term, and an incremental £100 million of revenue by the end of FY22 relating to the Significant Opportunities portfolio.

IG has a strong track record of working constructively with its regulators and adapting to regulatory change. The Group's continued ability to adapt to the pace and direction of evolving regulation is a long-term success factor.


https://www.investegate.co.uk/ig-group- ... 17490585D/

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Re: IG Group (IGG)

#350654

Postby Stan » October 26th, 2020, 9:04 am

I've been awaiting a reverse in IG (nothing serious hopefully) so that I can get back in, but they refuse to cooperate ;)

idpickering
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Re: IG Group (IGG)

#350760

Postby idpickering » October 26th, 2020, 1:52 pm

Stan wrote:I've been awaiting a reverse in IG (nothing serious hopefully) so that I can get back in, but they refuse to cooperate ;)


I know the feeling. I've held since Jul 2019, and they're risen strongly since. I'd love to buy more of their shares but am not keen to overpay. Having said that, I'm happy to continue holding IGG for the very long term.

Ian.

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Re: IG Group (IGG)

#366330

Postby idpickering » December 15th, 2020, 7:13 am


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Re: IG Group (IGG)

#379170

Postby idpickering » January 21st, 2021, 7:11 am

Interim Results

Highlights

- A record performance in H1 FY21:

- Net trading revenue up 67% to £416.9 million (H1 FY20: £249.9 million)

- Profit before tax increased 129% to £231.3 million (H1 FY20: £101.2 million)

- Active clients rose 55% to 238,600 (H1 FY20: 154,000), 64,000 new clients onboarded (H1 FY20: 28,800)

- New client retention rates are comparable to historical averages

- Capital, funding, and liquidity remain very strong with regulatory capital resources of £712.3 million (31 May 2020: £675.5 million)

- Interim cash dividend of 12.96 pence per share (H1 FY20: 12.96 pence per share)


https://www.investegate.co.uk/ig-group- ... 00033916M/
Last edited by idpickering on January 21st, 2021, 7:18 am, edited 1 time in total.

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Re: IG Group (IGG)

#379173

Postby idpickering » January 21st, 2021, 7:17 am

Proposed Acquisition of tastytrade, Inc.

The Board of IG Group Holdings plc ("IG" and, together with its subsidiaries, the "Group") is pleased to announce the proposed acquisition of tastytrade, Inc. ("tastytrade"), a high growth US online brokerage and trading education platform with a leading position in US listed derivatives, primarily options and futures, and over 105,000 active accounts[1] (the "Acquisition").

§ Landmark transaction that expands and diversifies IG's growth drivers through entry into the world's largest listed derivatives market. With an estimated 1.5 million retail traders, the US options and futures market is larger than the rest-of-world CFD/FX and European Turbo markets combined[2] .

§ tastytrade is highly complementary to IG's existing client offering, adding a leading[3] provider of exchange traded derivatives and increasing the contribution from agency-only activities.

§ The transaction significantly increases the scale and relevance of IG's existing US business through the acquisition of a fast-growing, high margin business that is well positioned to benefit from the structural growth in self-directed investing in the US listed options and futures market.

§ IG and tastytrade share a strong culture and client-centric ethos; both companies also focus on the same client demographic of ambitious, self-directed retail traders.

§ Total consideration of $1.0 billion to be paid to tastytrade's shareholders, comprising $300 million in cash and the issuance of 61.0 million IG shares, valued at $700 million[4].

§ Following completion of the Acquisition, key tastytrade management shareholders, comprising Tom Sosnoff (Co-CEO, tastytrade), Kristi Ross (Co-CEO and President, tastytrade), Scott Sheridan (CEO, tastyworks) and Linwood Ma (CTO, tastytrade), will join the IG senior leadership team and continue in their current roles to help drive further growth in the business, and will collectively own approximately 5.7% of the enlarged share capital of IG.

§ Financially attractive, with the Acquisition expected to be low single digit accretive to IG's adjusted earnings per share in the first full year post completion[5].

§ Completion of the Acquisition remains subject to the satisfaction of customary conditions, including regulatory and anti-trust consents in the US.

June Felix, Chief Executive of IG , commented , "I am thrilled to welcome tastytrade to the IG Group family. This acquisition will materially expand and scale our business in the US and see us further diversify into the exciting high growth market of US retail options and futures, a market which is adjacent to IG's core retail trading skill set. The US market has more than 1.5 million retail traders and is the largest derivatives market in the world. tastytrade has grown impressively and proven itself to be an innovative market disrupter passionately committed to delivering for their clients. The financial and strategic rationale underpinning this deal are compelling. I am confident that with our shared client-centric ethos, passion for innovation and growth , IG and tastytrade will prove a winning combination."


https://www.investegate.co.uk/ig-group- ... 01023914M/

idpickering
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Re: IG Group (IGG)

#394478

Postby idpickering » March 11th, 2021, 7:16 am

3rd Quarter Results

'Another consecutive, exceptional quarter for revenues driven by continued high levels of client activity, with the Significant Opportunities revenue target now anticipated to be substantially achieved in FY21, a year ahead of plan'

IG Group Holdings plc ("IG", "the Group", "the Company"), a global leader in online trading, today issues its scheduled update on revenue for the three months to 28 February 2021 ("Q3 FY21"), representing the third quarter of the financial year ending 31 May 2021 ("FY21").

Business performance in Q3

IG continued to see exceptional levels of trading activity throughout the third quarter, delivering revenue of £230.3 million, 65% higher than the same period in the prior year (Q3 FY20: £139.8 million) and up 11% on Q2 FY21. Performance was driven by a combination of sustained elevated levels of trading from IG's existing clients and continued high levels of client acquisition with a record 230,100 clients active in the quarter, representing growth of 60% year over year (Q3 FY20: 143,800) and 11% on Q2 FY21. The level of revenue per client for the Group's OTC Leveraged clients was maintained at similar levels to those reported in Q1 and Q2 FY21 and 9% higher than the prior year period.

· Q3 FY21 revenue in the Core Markets was £192.7 million, up 67% year over year (Q3 FY20: £115.7 million) with active clients reaching 191,700. Within our non-leveraged offering, we saw a period of exceptional demand which drove significant increases in revenue, revenue per client, and client acquisition in the period

· Q3 FY21 revenue in the Significant Opportunities portfolio was £37.6 million, up 55% on the prior year period (Q3 FY20: £24.2 million). This was largely driven by a 50% increase in the number of active clients to 40,100 (Q3 FY20: 26,700)



https://www.investegate.co.uk/ig-group- ... 00108690R/

idpickering
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Re: IG Group (IGG)

#429500

Postby idpickering » July 22nd, 2021, 7:24 am

Results for the financial year ended 31 May 2021

https://www.investegate.co.uk/ig-group- ... 00050509G/

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Re: IG Group (IGG)

#429509

Postby Arborbridge » July 22nd, 2021, 8:19 am

idpickering wrote:Results for the financial year ended 31 May 2021

https://www.investegate.co.uk/ig-group- ... 00050509G/


Third year of held dividends. This is one of my better investments: let's hope the further hold isn't a serious warning sign.


Arb.

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Re: IG Group (IGG)

#429514

Postby idpickering » July 22nd, 2021, 8:36 am

Arborbridge wrote:
idpickering wrote:Results for the financial year ended 31 May 2021

https://www.investegate.co.uk/ig-group- ... 00050509G/


Third year of held dividends. This is one of my better investments: let's hope the further hold isn't a serious warning sign.


Arb.


Agreed. It’s performed very well over the year I’ve held them on the capital gains front, but that’s not what we’re about here. Hopefully the div will rise going forward. I have a ‘full holding’ of IGG, and am not likely top top up my holdings. Happy to let them be in my HYP though.

Ian.

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Re: IG Group (IGG)

#429613

Postby Pendrainllwyn » July 22nd, 2021, 12:26 pm

IGG have been clear - they will hold their dividend for a few years whilst they pursue "Strategic Opportunities" and then seek to grow the dividend again. They claim to have largely achieved their Strategic Opportunities target growth 1 year ahead of schedule plus they will soon have the tastytrade acquisition onboard. IGG have raised their revenue growth guidance in core markets from 3-5% to 5-7% and they forecast 25-30% revenue growth from their High Potential Markets segment (it has superseded Strategic Opportunities) so they remain confident - not an indication of serious warning signs. All seems to be going well for now. It's a decent sized position for me and I will look to add to my position if the share price remains around these levels when funds permit.

Pendrainllwyn

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Re: IG Group (IGG)

#431194

Postby Stan » July 29th, 2021, 12:08 pm

After a period of reflection over the last 18 months I feel its time to start trading again with IG in the frame.

One of the few shares that has constantly delivered on capital growth and more them decent Dividends over the years for me.

My only slight concern is did they pay over the odds on this "tasty" acquisition?

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Re: IG Group (IGG)

#442678

Postby idpickering » September 16th, 2021, 7:06 am

First Quarter Revenue Update

Business performance

Revenue for the quarter was £227.5 million. Excluding the foreign exchange hedging gain associated with the financing of the tastytrade acquisition which completed on 28 June 2021, adjusted net trading revenue was £221.7 million, higher than both the same period in the prior year (Q1 FY21: £209.0 million) as well as the recent Q4 FY21 period (£214.1 million), and consistent with the Group's previous guidance. tastytrade delivered another consecutive record quarter of revenue. In the approximately two month period since completion, it delivered revenue of £20.8 million. Excluding tastytrade, adjusted net trading revenue for the quarter was £200.9 million, 4% lower than Q1 FY21, reflecting anticipated moderation in trading activity.

- Core Markets+ revenue was £192.1 million in the quarter (Q1 FY21: £199.9 million), down 4%, reflecting, as anticipated, the impact of ASIC regulation in Australia which came into effect in March 2021. The Japan business continued to perform strongly and delivered growth ahead of expectations in the quarter.

- High Potential Markets revenue was £29.6 million in the quarter, reflecting strong growth at tastytrade and Spectrum, offset by revenues from Nadex, which experienced reduced client activity. Pro forma revenue, which includes a full quarter of tastytrade was £38.2 million (pro forma Q1 FY21: £32.9 million) was up 16%.



https://www.investegate.co.uk/ig-group- ... 00039208L/

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Re: IG Group (IGG)

#445502

Postby idpickering » September 27th, 2021, 7:20 am


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Re: IG Group (IGG)

#457478

Postby idpickering » November 12th, 2021, 7:23 am

Comprehensive debt refinancing

IG Group Holdings plc ("IG", "the Group", "the Company"), a global leader in online trading, is pleased to announce the successful completion of a comprehensive debt refinancing exercise and implementation of a long term funding structure.

These important steps will:

· give IG additional, significant levels of liquidity, to further support the Group's strategic growth ambitions;

· lengthen the maturity of the debt facilities, enhancing IG's financial flexibility; and

· provide material headroom within our total facilities.

The refinancing involves:

· the issue of £300,000,000, 3.125% senior unsecured bonds due 2028, expected BBB- by Fitch Ratings, which were priced yesterday. This inaugural issuance for the Company attracted strong investor demand, enabling us to tighten pricing and increase its size from initial indications.

· a new £300,000,000 committed revolving credit facility (RCF), with an initial maturity of three years. Importantly, the Company has the ability to request an increase in the RCF size to £400,000,000, and to request two maturity extensions of one year each, all subject to bank approval.

· the repayment and cancellation of the Company's existing £125m RCFs and £250m term loan facilities.

Following this exercise, total available credit facilities have risen from £375m to £600m with the potential to rise to £700m, if the new RCF is increased in size.


https://www.investegate.co.uk/ig-group- ... 00021650S/

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Re: IG Group (IGG)

#462226

Postby idpickering » December 1st, 2021, 7:15 am

Proposed sale of Nadex and Small Exchange

IG Group Holdings plc ("IG" and, together with its subsidiaries, the "Group") today announces the proposed sale of North American Derivatives Exchange, Inc. ("Nadex") and Small Exchange, Inc. ("Small Exchange"), the latter of which the Group owns approximately 39%, to Foris DAX Markets, Inc. (part of the group of companies trading as "crypto.com").

The proposed sale is a cash transaction with an approximate, aggregate price for the IG shareholdings in both companies of $216 million. The closing of the transaction is expected to be in the first half of 2022, subject to the satisfaction of customary conditions, including regulatory review.

This transaction does not materially impact full-year adjusted operating profit expectations nor the medium-term revenue growth guidance for High Potential Markets previously provided in July 2021.

"We're really excited by this deal, as it delivers a significant return on the previous investments made in Nadex and Small Exchange and enables additional investment across all our businesses. This deal also allows us to further sharpen our focus on integrating and expanding the US options and futures business through our tastytrade and tastyworks franchises, both in the US and internationally, where we see significant room for growth." said June Felix, CEO, IG Group.


https://www.investegate.co.uk/ig-group- ... 00091717U/

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Re: IG Group (IGG)

#476442

Postby idpickering » January 27th, 2022, 7:10 am

Interim results for the six months ended 30 November 2021

- Net trading revenue increased 16% to £471.9 million (H1 FY21: £408.5 million). Excluding the foreign exchange hedging gain associated with the financing of the tastytrade acquisition, adjusted net trading revenue increased 14% to £466.1 million

- Profit before tax increased 8% to £245.2 million (H1 FY21: £227.8 million), while adjusted[2] profit before tax increased 13% to £258.0 million

- Active clients increased 42% to 320,400 (H1 FY21: 225,200) reflecting the acquisition of tastytrade; 53,600 new clients acquired (H1 FY21: 60,800), lower than FY21, as anticipated in less volatile market conditions, but significantly higher than pre-pandemic client acquisition (H1 FY20: 26,400)

- Client retention rates have remained consistent with historical averages, reflecting the high quality of clients onboarded in previous periods

- Total operating costs increased 22% to £223.3 million (H1 FY21: £182.8 million). Adjusted total operating costs[3] increased 13% to £205.7 million

- Profit before tax margin for the first half was 52.0% (H1 FY21: 55.8%). Adjusted profit before tax margin was 55.3%

- Basic EPS was 48.1 pence (H1 FY21: 50.7 pence). Adjusted basic EPS was 50.6p

- Interim cash dividend of 12.96 pence per share (H1 FY21: 12.96 pence per share)

And later;

The proposed interim dividend for FY22 of 12.96 pence per share totalling £55.9 million was approved by the Board on 27 January 2022 and has not been included as a liability at 30 November 2021. This dividend will be paid on 4 March 2022 to those members on the register at the close of business on 3 February 2022.


https://www.investegate.co.uk/ig-group- ... 00087747Z/


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