REG - CMC Markets Plc - Trading Statement

CMC MarketsAnnouncement

27/03/2023 16:00

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RNS Number : 3568U  CMC Markets Plc  27 March 2023

27 March 2023

CMC Markets Plc

 

FY 2023 Trading Update

CMC Markets Plc ("CMC" or the "Group"), a leading global provider of online
retail ("D2C") and institutional ("B2B") platform technology, today issues a
trading update for FY 2023.

 

Trading Update

FY 2023 net operating income is expected to be between £280-290 million.
February and March posed a more challenging environment with lower equity
volumes and a higher proportion of lower margin institutional trading
activity.

Management expectations for FY 2023 operating costs excluding variable
remuneration are expected to be in the range of £215-220 million.

Development upgrades across both its investing and trading platforms continue
and the expansion in the institutional business remains on track. CMC's
diversification strategy in its investment business advances with CMC UK
Invest (https://www.cmcinvest.com/en-gb/) expanding its offering and with the
recent award of its regulatory licence, CMC Singapore Invest is due to go live
over coming months.

These strategic objectives underpin the expected 30% growth in net operating
income based on the 2022 results over the next three years.

CMC will announce its FY 2023 results on Tuesday 13(th) June 2023.

 

Enquiries

CMC Markets Plc

James Cartwright, Chief Operating Officer
 
investor.relations@cmcmarkets.com

Euan Marshall, 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/

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