REG - CMC Markets Plc - Trading Statement

CMC MarketsAnnouncement

09/10/2024 07:00

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RNS Number : 4351H  CMC Markets Plc  09 October 2024

09 October 2024

 

CMC MARKETS PLC

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

 

H1 2025 Pre-Close Trading Update

 

CMC Markets Plc, a leading provider of online financial trading and B2B
institutional solutions, today issues a trading update for the six months to
30 September 2024 ("H1 2025" or "the period").

Financial and operational highlights:

·     H1 2025 net operating income expected to be approximately £180
million up 45% on prior year (H1 2024: £123 million)

·    H1 2025 operating costs (excluding variable remuneration and
non-recurring charges) expected to be approximately £113 million (H1 2024:
£122 million) a decrease of approximately 7% on prior year

·      H1 2025 profit before tax expected to be approximately £51
million (H1 2024: £(2) million)

The strong performance reflects the success of our ongoing diversification
strategy, continued expansion of the B2B segment, and sustained levels of
client trading activity.

Management remains focused on growing profit margins and taking a disciplined
and balanced approach to investment whilst driving efficiencies through the
business.

Operating costs for H1 2025 (excluding variable remuneration and one-off
charges) are projected to be approximately £113 million.

The combination of robust net operating income and disciplined cost management
resulted in the Group delivering an estimated profit before tax of £51
million for the half year.

From an operational standpoint, the Group has continued to enhance its service
offering across platforms with the expansion of cash equities and options
products, as well as the upcoming launch of cash ISAs in the UK underpinned by
our treasury management division and proprietary technology.

The onboarding of Revolut clients has commenced following a soft launch, with
the number of clients live and actively trading increasing steadily.  The
Group will continue to keep the market updated on the progress of this
partnership.

The Group's interim results are due to be released on 21 November 2024.

 

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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