$IGG.L – IG Group – pre-close trading statement

Investment Services company IGG (IG Group) issued its pre-close trading statement today, stating that it remains on track to deliver against full year expectations. They made good strategic progress, extending their stockbroking offering into the Netherlands and received approval in-principle for a regulatory licence in Dubai.

The shares fell 0.4% by the close.

IGG is a company I bought, and sold, shares in many years ago. Given that they’re up 172% in 5 years I clearly sold way, way too soon.

I bought some IGG recently, up slightly.

I quite liked the look of them, as they still clearly have growth, have a good track record, high returns on capital, net cash, and offered a yield over 3% (closer to 4%, actually). It is trading on a PE of 18, which value investors may find to be too pricey. However, the yield is acceptable to me, as well as all factors I mentioned previously.

IGG has a Stock Rank of 96, and Piotroski score of 8.

I think it’s a high-quality company. Stockopedia thinks so, too: it has a Quality score of 99.

784p

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About mcturra2000

Computer programmer living in Scotland.
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