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IG Group Sees Lower Operating Profit In FY19

IG Group Holdings plc (IGG.L) said that it expects operating profit for fiscal year 2019 to be around 190 million pounds, compared to 281 million pounds reported in fiscal year 2018.

The company anticipates revenue for the fourth quarter to be around 115 million pounds compared with 108 million pounds in the third quarter of the year.

The full year net trading revenue is projected to be around 475 million pounds, compared to 569 million pounds last year. The projected 17% year on year reduction in net trading revenue has been driven by the 26% reduction in OTC leveraged revenue in the ESMA region, with OTC leveraged revenue in the rest of the world up by 2%.

The company expects to maintain the 43.2 pence per share annual dividend until the Group's earnings allow the Company to resume progressive dividends.

The company anticipates the Group's revenue for fiscal year 2022 will be around 30% higher than in fiscal year 2019.

The company also expects core markets revenue growth at around 3-5% per annum over the medium term.

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