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IG Group (LON:IGG) has filed a preliminary report with the London Stock Exchange this morning, revealing that the company’s profits have dropped despite an increase in revenues. The brokerage has announced that its profits before taxes declined by 2.8 per cent when compared to last year to £98.6 million.
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Looking at the revenues of IG Group, the figure was reported higher by 8.8 per cent year-on-year, which totals £214.8 million. The decline in profits is primarily due to an increase in expenses, which totaled 18.7 per cent year-on-year. The company ... (read more)