REG - CMC Markets Plc - FY 2024 Pre-Close Trading Update

CMC MarketsAnnouncement

27/03/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240327:nRSa4175Ia&default-theme=true

RNS Number : 4175I  CMC Markets Plc  27 March 2024

27 March 2024

CMC Markets Plc

 

FY 2024 Pre-Close Trading Update

CMC Markets Plc ("CMC" or the "Group"), a leading global provider of online
retail, institutional and B2B platform technology, today issues a trading
update for the year to 31 March 2024 ("FY 2024").

Trading Update

 

Further to the trading update provided in January 2024, the Group now expects
FY 2024 net operating income to exceed the top end of the previously guided
range of between £290 and £310 million.

 

Following the strong trading performance seen in Q3, the positive momentum
continued in the fourth quarter.  We continue to see strength in the
institutional and B2B business as the Group benefits from the long-term
investments in this area.  The Group also has a strong pipeline of B2B
partnerships some of which are in the advanced stages.

 

From an operational perspective, development upgrades across platforms have
continued as planned and in February the Group widened its trading offering
with the rollout of OTC options. Following the launch of mutual funds in H1,
SIPP accounts are set for imminent release on the Invest UK platform, as part
of the ongoing enhancement of the long-term savings proposition.

Operating costs, excluding variable remuneration and non-recurring items, are
expected to be in line with guidance at around £240 million for FY 2024.

With actions taken as part of the cost reduction and efficiency plans outlined
in February 2024, the Group continues to identify opportunities for further
cost savings across the global business as we focus on improving profit
margins.

CMC is due to announce its FY 2024 results on 20 June 2024.

 

Enquiries

 

CMC Markets
Plc
investor.relations@cmcmarkets.com

Dave Fineberg, Deputy Chief Executive Officer

Albert Soleiman, Chief Financial Officer

 

Camarco
                                  +44 (0) 20 3757 4994

Geoffrey Pelham-Lane

Jennifer Renwick

 

MAR Disclosure Statement

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
("MAR"). Upon the publication of this announcement via Regulatory Information
Service ("RIS"), this inside information is considered to be in the public
domain.

Notes to Editors

 

CMC Markets Plc ("CMC"), whose shares are listed on the London Stock Exchange
under the ticker CMCX (LEI: 213800VB75KAZBFH5U07), was established in 1989 and
is now one of the world's leading online financial trading businesses. The
Group serves retail and institutional clients through regulated offices and
branches in twelve countries, with a significant presence in the UK,
Australia, Germany, and Singapore. CMC offers an award-winning, online, and
mobile trading platform, enabling clients to trade up to 10,000 financial
instruments across shares, indices, foreign currencies, commodities, and
treasuries through contracts for difference ("CFDs"), financial spread bets
(in the UK and Ireland only) and, in Australia, access stockbroking services.
More information is available at http://www.cmcmarkets.com/group/.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTEAEDKAADLEAA