{"id":267,"date":"2024-06-27T23:06:56","date_gmt":"2024-06-27T20:06:56","guid":{"rendered":"https:\/\/miamiclubcasinonodepositbonus.icu\/2024\/06\/27\/ig-group-reports-record-profits-announces-coo-departure\/"},"modified":"2024-06-27T23:06:56","modified_gmt":"2024-06-27T20:06:56","slug":"ig-group-reports-record-profits-announces-coo-departure","status":"publish","type":"post","link":"https:\/\/miamiclubcasinonodepositbonus.icu\/2024\/06\/27\/ig-group-reports-record-profits-announces-coo-departure\/","title":{"rendered":"IG Group Reports Record Profits, Announces COO Departure"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/y6q7L8RNZGk\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>IG Groups earnings skyrocketed by 31.4% annually, hitting an all-time peak in the fiscal year concluding on May 31. The enterprise is actively seeking a new chief operating officer following Bridget Messer&#8217;s resignation from the position.<\/p>\n<p>IG Groups revenue climbed to \u00a3853.4 million, a substantial leap from \u00a3649.2 million in 2020.<\/p>\n<p>Overall operating revenue reached \u00a3860.5 million, a 31.6% surge from the prior fiscal year, fueled by a blend of gambling taxes, net interest income on client funds, and other operating revenue sources.<\/p>\n<p>Total operating expenses amounted to \u00a3406.0 million, a 13.2% annual increase.<\/p>\n<p>The lion&#8217;s share (87.3%) of operating expenses was attributed to general and administrative expenditures, with the remaining 12.7% allocated to compensation costs tied to IG&#8217;s performance.<\/p>\n<p>Fixed compensation constituted the largest cost component at \u00a3131.4 million, a 12.8% year-on-year rise. Advertising and marketing expenses totaled \u00a371.1 million, up 15.6% annually. Other expenses reached \u00a345.8 million, down 13.4%. These other expenses encompass revenue-related costs, IT expenditures, regulatory fees, and depreciation and amortization costs.<\/p>\n<p>This resulted in a total operating profit of \u00a3454.1 million, more than double the operating profit recorded in 2020. <\/p>\n<p>IGs financial expenses totaled \u00a33.8 million, while pre-tax earnings reached \u00a3450.3 million, a 52.1% jump compared to the same period last year.<\/p>\n<p>The number of active customers also rose by 31.0% from 239,600 in 2020 to 313,000.<\/p>\n<p>Overall tax amounted to \u00a378.4 million, including UK corporate tax, non-UK corporate tax, and certain deferred tax provisions, leading to a total post-tax profit of \u00a3371.9 million. This signifies a 54.7% increase compared to the same period last year.<\/p>\n<p>IG Group expressed contentment with the performance in a statement, emphasizing the acquisition of Tastytrade in June as a key factor driving growth.<\/p>\n<p>&#8220;IG achieved record income and profits fueled by substantial growth in high-quality active customers. IG surpassed its growth targets and released new upgraded guidance. The completion of the Tastytrade acquisition accelerated IG&#8217;s growth and diversification objectives, especially in the significant US market.&#8221;<\/p>\n<p>Meanwhile, IG Group&#8217;s Chief Operating Officer and Executive Director, Bridget Messer, announced her departure due to family matters.<\/p>\n<p>Messer has been with IG Group for 16 years. She will continue in her position for the next few months and will remain a director until September 22, the date of IG Group&#8217;s Annual General Meeting.<\/p>\n<p>&#8220;Bridget has made a valuable contribution to the Group during her time with the company,&#8221; said June Felix, CEO of IG Group. <\/p>\n<p>Bridgets proficiency in business and regulations is highly regarded, and her contribution to establishing IG&#8217;s robust values and culture is truly praiseworthy. We are thankful for her dedication and wish her all the best in her future pursuits.<\/p>\n<p>Sign up for the iGaming news newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>IG Groups earnings skyrocketed by 31.4% annually, hitting an all-time peak in the fiscal year concluding on May 31. The enterprise is actively seeking a new chief operating officer following Bridget Messer&#8217;s resignation from the position. IG Groups revenue climbed to \u00a3853.4 million, a substantial leap from \u00a3649.2 million in 2020. Overall operating revenue reached [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>IG Groups Soars: Record Earnings &amp; New COO Search<\/title>\n<meta name=\"description\" content=\"IG Groups reports record earnings, with revenue hitting \u00a3853.4 million. 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