LONDON -- The shares of IG Group (IGG -1.02%) added 4 pence to 594 pence this morning after the spread-betting specialist revealed its fourth-quarter revenues had improved 8%.
The FTSE 250 mid-cap said its turnover during February, April, and May had advanced from £96 million to £104 million.
The company claimed its clients had responded to a number of separate market events, including the Cypriot bank "bail-in," the gold-price slump, and actions from the Bank of Japan during the last three months.
IG added the Q4 performance had helped second-half revenue climb 13% to £193 million, although turnover for the 12 months to May 2013, at £362 million, was 1% lower than the £366 million registered the year before.
IG did confirm, however, that "actions... to slow down investment" had reduced operating costs and had helped 2012-13 profits before tax come in ahead of the prior year.
Prior to today, some City experts were expecting IG's earnings to have dropped from 37 pence to about 34 pence per share. Assuming earnings remain at 37 pence per share, the shares are valued on a P/E multiple of 16.
A trailing 22.5 pence per share dividend currently supports a 3.8% income.
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