Electronic trading major IG Group Holdings plc (LON:IGG) today issued its scheduled update on its net trading revenue for the six months to November 30, 2020 (H1 FY21) – IG has a May 31 fiscal year end.

Following a very strong first quarter, the Group says it performed at comparable levels in the second quarter generating revenue of around £207 million (Q2 FY20: £120.8 million). That is just slightly lower (by about 1%) from Q1’s £209 million.

The result was supported by elevated trading volumes across a larger, total active client base of 207,000 clients in the quarter (Q2 FY20: 133,800). The Group’s active client base has now materially increased in size over the prior year, benefitting from a continuation of strong client acquisition.

Net trading revenue for the first six months of the current financial year is expected to be around £416 million, markedly higher from the result of £249.9 million registered in the equivalent period a year earlier.

Let’s recall that, as per a trading update from September this year, IG’s Q1 FY21 revenue in the Core Markets was £170.8 million, up 56% on the prior year (Q1 FY20: £109.4 million). Performance of the retail client base in UK and Europe was particularly strong, with growth delivered in both revenue per client and number of active clients.

Q1 FY21 revenue in the Significant Opportunities portfolio was £38.2 million, up 94% on the prior year (Q1 FY20: £19.7 million).