IG Group full-year profit falls hurt by Swiss franc fluctuations
(Reuters) - Financial trading platform IG Group Holdings said its full-year reported pretax profit fell 13 percent, dented by the unprecedented surge in the Swiss franc in January when the Swiss National Bank scrapped a cap on the currency.
Pretax profit declined to 169.5 million pounds for the year ended May 31, compared with 195 million pounds a year earlier, the company said.
IG Group, which is an online stockbroking and trading company aimed at retail clients, also said its Chief Executive Tim Howkins would retire in October.
(Reporting by Aashika Jain in Bengaluru; Editing by Gopakumar Warrier)
