Investing.com -- Shares of IG Group Holdings plc (LSE:IGG) fell by 2% today after the company reported financial results that showed total revenue surpassing expectations.
The company's revenue for the period reached £523 million, which is 2% higher than the consensus forecast by Visible Alpha. However, despite the positive revenue performance, the stock experienced a decline.
The company's adjusted profit before tax (PBT) was reported at £267 million, which is 10% above the Visible Alpha consensus, reflecting a normalization of bad debt and a reduction in headcount by 10%. IG Group also communicated its confidence in meeting full-year 2025 consensus estimates for total revenue of £1,031 million and adjusted PBT of £493 million.
In addition to the financial results, IG Group announced the extension of its existing share buyback programme by an additional £50 million, to be completed in the second half of fiscal 2025. This move demonstrates the company's commitment to returning value to shareholders and its positive outlook on the future.
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