IG says new regulations 'disproportionate' as reports record first half profit
Source - SMW
Trading platform IG said regulatory changes will make it difficult to predict the level of revenue in the short-term after reporting record first half revenue and pre-tax profit.
Revenue is up 10% to £268.4m and pre-tax profit up 29% to £136.2m. Describing new leverage restrictions as disproportionate, the spread betting provider says the financial impact of the mooted ban on binary options and restrictions on CFDs 'is unlikely to be significant in the current financial year'.
However, its says the impact in future years is harder to predict, noting that if the measures currently being considered had been in place in its previous financial year then the reduction in revenue would have been less than 10%.