REG - CMC Markets Plc - Q1 2025 Trading Update

CMC MarketsAnnouncement

25/07/2024 07:00

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RNS Number : 7229X  CMC Markets Plc  25 July 2024

25 July 2024

 

CMC MARKETS PLC

("CMC" the "Group" or the "Company")

 

Q1 2025 Trading Update

 

Q1 performance in line with expectations.

On track to achieve net operating income of between £320-360 million.

 

Consistent with our FY24 results announcement on 20 June, the Group traded in
line with management's expectations during the first quarter of FY25. Good
progress is being made on our institutional and B2B strategy, as highlighted
by the recent announcement of our partnership with Revolut and an encouraging
pipeline of potential opportunities.

The initial onboarding of Revolut clients has commenced and some clients are
now live and trading. Further details will be provided at our half year
results in November as the partnership picks up momentum and develops over the
coming months. This exciting and important partnership reinforces CMC's
position as a market leader and innovator in the B2B fintech space through
technology and our API ecosystem.

As outlined at our full year announcement, management remains focused on
opportunities to drive additional cost efficiencies and deliver margin
expansion, particularly in the institutional and B2B space, where we see
growing profit margins.

Guidance remains unchanged with the expectation of net operating income of
between £320-360 million in FY25 on a cost base, excluding variable
remuneration and non-recurring charges, of approximately £225 million.

The H1 2025 pre-close trading update is scheduled to be released on 9 October
2024.

 

Forthcoming announcement dates:

9 October
2024
H1 2025 Pre-Close Trading Update

21 November 2024
            H1 2025 Interim Results

 

Enquiries

CMC Markets Plc
 

Albert Soleiman, Chief Financial
Officer
investor.relations@cmcmarkets.com

Camarco

Geoffrey
Pelham-Lane
+44 (0) 7733 124 226

Jennifer Renwick
                          +44 (0) 7928 471 013

Alex Campbell
                             +44 (0) 7710 230 545

 

Forward looking statements

This trading update may include statements that are forward looking in nature.
Forward looking statements involve known and unknown risks, assumptions,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Group to be materially different from any
future results, performance or achievements expressed or implied by such
forward looking statements. Except as required by the Listing Rules and
applicable law, the Group undertakes no obligation to update, revise or change
any forward-looking statements to reflect events or developments occurring
after the date such statements are published.

 

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
Company serves retail and institutional clients through regulated offices and
branches in 12 countries with a significant presence in the UK, Australia,
Germany and Singapore. CMC Markets offers an award-winning, online and mobile
trading platform, enabling clients to trade over 12,000 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, Singapore and the UK, access stockbroking
services. More information is available at http://www.cmcmarketsplc.com
(http://www.cmcmarketsplc.com) .

 

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