Financial spread betting company IG Group has announced preliminary financial results for the full year to May 31, 2015 and the retirement of CEO Tim Howkins.

IG Group reported a 4.9% rise in revenues to £388.4m for the full year despite the £27m losses on January 15, when the Swiss National Bank announced without notice that it was ceasing intervention in the franc exchange rate. The company also posted a 13% drop in full-year pre-tax profit to £169.5m from £194.9m last year.

However, underlying revenue – before the impact of the Swiss franc event – was up 8% at £400.2m, while underlying pre-tax profit was down by 0.9% to £193.2m.

“2015 was another year of good progress on our strategic initiatives, coupled with a solid underlying set of financial results. As part of our product and geographic diversification strategy, we launched our execution-only stockbroking product in the UK, Ireland and the Netherlands and extended it into Germany and Austria after year end.