British online trading firm IG reports rise in annual profit
July 18 (Reuters) - British online financial trading company IG Group Holdings Plc said on Tuesday that full-year pretax profit rose 3 percent, beating analysts' estimates.
The company, which provides online stockbroking and trading services to retail investors, said it had made "good progress" in getting regulatory approval for a subsidiary based in the European Union as it prepares for Britain's exit from the bloc.
IG Group, founded in 1974 as the world's first spread-betting firm, did not say where its EU subsidiary would be.
The company also said it was in the early stages of exploring further opportunities outside the EU.
IG (Frankfurt: A0EARV - news) reported a 3 percent in pretax profit for the year ended May to 213.7 million pounds ($280 million), beating company compiled consensus estimates of 211.7 million pounds, based on 5 analysts, in a year it called one of the least volatile in financial markets for decades. ($1 = 0.7632 pounds) (Reporting by Noor Zainab Hussain in Bengaluru, editing by Louise Heavens)