IG GROUP, Britain's biggest spread-betting company, saw "no signs" of a slowdown in customer trading activity in spite of a deteriorating UK economic outlook as its full-year earnings rose 40 per cent.

Tim Howkins, chief executive, said the company expected its US business to approach being profitable by the end of this financial year, following recent expansion into the region including the purchase of Hedge­Street, an off-exchange foreign exchange platform.

Market volatility helped drive earnings before interest, tax, depreciation and amortisation to £98.5 million (€123.9 million) in the year to May 31st. Revenues rose 51 per cent to £184 million and the pre-tax profit was £97 million compared to £68.9 in the year ago period. The results were in line with analysts' expectations. - (Financial Times service)