LONDON (SHARECAST) - Peter Hetherington, the Chief Operating Officer of spread betting firm IG Group has more than halved his stake in the company just a fortnight after it reported a decline in first quarter revenue, as it ran up against strong figures from a year earlier, when markets were particularly volatile.
Hetherington earned £705,642 from the transaction, in which he sold 156,012 shares at 452.30p a go. He now hold 100,000 shares.
In its quarterly results, the firm said revenue in the three months to the end of August - the first quarter of the group's financial year - was in line with expectations at £81.5m, 18% lower than the prior year figure of £99.6m.
The group's major market is the UK, and here revenue was down 21% to £41.1m. The number of active clients in the UK was down 16% and revenue per client was 6% lower year-on-year (y/y).
The group said it continued to face tough comparatives at the start of the second quarter, with September 2011 the second highest revenue month in the history of the company. It anticipates that revenue this year will, as in most years, be weighted towards the second half.
Despite a volatile 12 months, the share price is just 2.66% higher than it was at the same date a year ago, having risen almost 24p in the past month.
Top Director Buys
London Mining (LOND)
Director name: Sir Nicholas Bonsor
Amount purchased: 50,905 @ 182.50p
Value: £92,902
Invesco Leveraged High Yield Fund Ltd. (ILH)
Director name: Mr Peter Yates
Amount purchased: 100,000 @ 60.75p
Value: £60,750
London Mining (LOND)
Director name: Mr Graham Edward Mascall
Amount purchased: 30,543 @ 182.50p
Value: £55,741
InterQuest Group (ITQ)
Director name: Mr Gary Ashworth
Amount purchased: 75,000 @ 37.00p
Value: £27,750
InterQuest Group (ITQ)
Director name: Mr Mark Braund
Amount purchased: 74,000 @ 37.00p
Value: £27,380
Stilo International (STL)
Director name: Mr David Ashman
Amount purchased: 500,000 @ 3.80p
Value: £19,000
Top Director Sells
IG Group Holdings (IGG)
Director name: Mr Peter G Hetherington
Amount sold: 156,012 @ 452.30p
Value: £705,642
Nasstar (NASA)
Director name: Lord Lord Daresbury
Amount sold: 1,100,000 @ 10.25p
Value: £112,750
Keller Group (KLR)
Director name: Mr Gerry Brown
Amount sold: 7,840 @ 524.20p
Value: £41,097
InterQuest Group (ITQ)
Director name: Mr Michael Joyce
Amount sold: 50,000 @ 37.00p
Value: £18,500
InterQuest Group (ITQ)
Director name: Mr Alan Found
Amount sold: 50,000 @ 37.00p
Value: £18,500
Heavitree Brewery 'A' Shares (HVTA)
Director name: Mr Graham J Crocker
Amount sold: 7,272 @ 192.50p
Value: £13,999
LONDON (SHARECAST) - Peter Hetherington, the Chief Operating Officer of spread betting firm IG Group has more than halved his stake in the company just a fortnight after it reported a decline in first quarter revenue, as it ran up against strong figures from a year earlier, when markets were particularly volatile.
