IG Group Holdings PLC on Thursday said profit rose more than 30% in the first half of its current financial year, as it remains optimistic about trading in the second half.

The London-based online stockbroker said pretax profit for the six months that ended November 30 was £249.3 million, growing 34% from £176.4 million the year before.

Trading revenue rose 11% to £455.1 million from £406.4 million, while operating costs reduced by 1.9% to £294.2 million from £299.9 million last year.

IG declared an interim dividend of 13.86 pence per share, up 2.2% on-year from 13.56p.

Chief Executive Officer Breon Corcoran said: ‘First half performance reflected more supportive market conditions, but we have work to do to grow active customers which will be necessary to deliver sustainably stronger growth. Our focus remains on executing against the priorities we outlined in July 2024, which are to improve our product, embed a high-performance culture across the business and enhance efficiency.

‘Last week, we were delighted to announce the acquisition of Freetrade, the fast-growing, commission-free UK self-directed investment platform. The transaction will strengthen IG’s UK trading and investments offering and provide access to new customer segments and capabilities.

‘We have made progress in the first half of the year and have much more to do. Our people are full of energy and committed to delivering stronger, more sustainable growth. Current trading has been satisfactory, and we remain confident of meeting consensus revenue and profit before tax expectations in FY25. I look forward to updating you on progress in the second half of the year.’

Broker Peel Hunt has forecast adjusted pretax profit of £489 million for the group’s financial 2025 which ends in late May. It would represent a 6.9% growth from £456.3 million last year.

Shares in IG Group were down 1.5% at 1,057.00 pence each in London on Thursday morning.

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