A good bet for IG's revenues

IG GROUP, the UK's biggest spread betting company, posted a sharp rise in first-quarter revenues yesterday and said it was well-placed for further growth despite continued financial market uncertainty.

Turnover for the three months ending 31 August rose 16 per cent from last year to 79 million, driven by higher revenues in Singapore, Europe, Australia and at the company's main UK division.

IG said that while volumes were strong in the first half of the quarter, they became more subdued towards the end of the period due to the summer holiday season and low volatility. Shares dipped 5.5p to 495p.