May 31, 2017 / 6:17 AM / 6 months ago

UK's IG sees FY pretax profit "modestly" ahead of last year

May 31(Reuters) - IG Group Holdings Plc, a British online trading company, said it expected full-year pretax profit and earnings to be “modestly” ahead of last year, with full-year revenue seen rising about 7 percent.

The company, which provides online stockbroking and trading services to retail investors, said that despite a quiet fourth quarter in financial markets, IG’s revenue in the final quarter of the year ending May 31 was higher than in the same period a year ago.

Analysts on average expect the company to report a full-year pretax profit of 212.06 million pounds ($271.75 million), with revenue at 496.32 million pounds, according to Thomson Reuters I/B/E/S.

IG Group, which was founded in 1974 as the world’s first spread-betting firm, said operating expenses in the second half of the year are expected to be around the same level as in the first half. ($1 = 0.7803 pounds) (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Sunil Nair)

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