IG Group full-year profit falls hurt by Swiss franc fluctuations
Reuters
Published Jul 21, 2015 07:24
Updated Jul 21, 2015 07:36
IG Group full-year profit falls hurt by Swiss franc fluctuations
(Reuters) - Financial trading platform IG Group Holdings (L:IGG) said its full-year reported pretax profit fell 13 percent, dented by the unprecedented surge in the Swiss franc in January when the Swiss National Bank scrapped a cap on the currency.
Pretax profit declined to 169.5 million pounds for the year ended May 31, compared with 195 million pounds a year earlier, the company said.
IG Group, which is an online stockbroking and trading company aimed at retail clients, also said its Chief Executive Tim Howkins would retire in October.
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Written By: Reuters
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