05-12-2007 IG Group reports strong trading

The spread betting firm said in a pre-close trading update that it expects to report a 53% increase in total revenues up to £85m. The company provided no details for its IG Sport and Extrabet sites.

Esewhere, the Worldspreads Group annopunced a 80% increase in overall turnover to EUR 4.99m and a profit before tax of EUR 1.31m. The company's sports spread betting business (sportsspread.com) reported a contraction greater than management’s expectations representing less than 10% of the group's total turnover for the first six months of 2007.