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/.