Full year numbers from the investment platform IG Group were issued this morning with the company posting a 7% increase in revenues, active customers growing by 174% - thanks in part to the recent Freetrade acquisition, whilst management also announced a £125m share buyback. A strategic review is being launched, looking at a number of factors including mergers, acquisitions and even moving the company’s domicile and listing venue. Momentum is being sustained as the new trading year gets underway and the IG share price is up more than 5% in early trade.
Video games developer Tinybuild issued full year results this morning, under the headline that results were ahead of expectations. Revenues added 17%, cash from operating activities more than doubled and despite management cautioning that a crowded market – around 20,000 video games were released last year - makes visibility for the year ahead challenging, FY26 will be at least in line with expectations. The Tinybuild share price was up 16% shortly after the open.
Energy company Ithaca saw its shares pummelled on Wednesday following the release of results. That was despite a string of highlights including rising shareholder returns and hopes the Cambo project was nearing approval, but the impact of UK government levies took a toll on profitability. Investor confidence seems to be rebounding in early trade on Thursday with yesterday’s losses appearing to have been fully recouped in the first minutes of trading. The Ithaca share price was up almost 9% by 8.45am.
Most read news on Investegate this morning
Appointment of Non-Executive Director - - Quadrise (QED)
bp to sell Gelsenkirchen refinery to Klesch Group - - BP (BP.)
TVL Industry Engagement Update - - Alkemy Capital Investments (ALK)
