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.