IG Group Limited, the intermediate holding company subsidiary of IG Group Holdings plc, reported profit for the year of £357.9 million for the financial year ended May 31, 2024, down 17% from £429.6 million in the prior year.
The London-based company, which holds investments in Group companies, saw dividend income from subsidiaries decline to £358 million from £430 million in FY23, a decrease of £72 million or 16.7%. The company’s primary income derives from dividends received from Market Data Limited, which contributed £319 million, and IG Knowhow Limited, which paid £39 million.
Net assets remained essentially flat at £682.4 million compared to £682.5 million at the end of FY23. Total assets fell significantly to £682.6 million from £862.6 million, primarily due to a reduction in other receivables from £183.8 million to £3.9 million.
Operating costs decreased to £0.1 million from £0.4 million year-over-year. The company reported no tax expense for the period, with non-taxable dividend income offsetting the corporation tax liability.
During the year, the company paid dividends of £358 million to its parent, IG Group Holdings plc, compared to £430 million in the prior year. The directors do not recommend payment of a final dividend.
IG Group Limited has no employees, with directors remunerated for their services to the wider Group rather than the company directly. The financial statements were signed by Director David Wong on September 12, 2024.
