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Online stock brokerage group IG reported a rise in profit as revenue was boosted by a rise in active clients following the acquisition of tastytrade.
For the six months ended 30 November 2021, pre-tax profit increased 8% to £245.2 million as revenue rose 16% to £471.9 million.
Active clients increased 42% to 320,400 reflecting 'the acquisition of tastytrade,' the company said.
New clients acquired, however, fell to 53,600 from 60,800, lower than FY21, following less volatile market conditions.
The company approved an interim cash dividend of 12.96 pence per share.
Looking ahead, the company said it expected its staff costs to increase after ramping up its headcount.
'We expect the FY22 full year variable remuneration charge to be above the FY21 charge, reflecting the increase in the number of group employees,' the company said.
'As a result, we now expect our total adjusted operating costs to increase by around 7% on the combined FY21 IG and tastytrade cost base.'