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They obviously released the pre-close TU slightly earlier. It happens. Next update is June.
From their website...https://www.cmcmarkets.com/group/investors
Financial calendar
20 Jun 2024
FY 2024 full-year results
27 Mar 2024
FY 2024 pre-close update
16 Nov 2023
H1 2024 results
27 Jul 2023
Q1 2024 trading update
13 Jun 2023
FY 2023 results
Next one due on Tuesday is my understanding.
Share News suggesting a further trading update on 9th April but we've only just had one, however their update of 8th Jan said "The next scheduled update to the market will be the FY24 pre-close update on 9 April 2024."
I presume no further update ?
PH & Jefferies both clueless
They had SELL's on PLUS for about 5 years when they went from £2 up to £18!
The dont like/understand this type of business model
CMC Markets Plc : RBC raises target price to 240p from 190p
… price target to 135p from 127p!
Has anybody just seen the latest broker forecast? They’ve just lifted their
Need the split to happen!
I have got 10% more than i hoped for , excellent day
CMCX is starting to feel a bit like PLUS...i sold about 2,000 shares of PLUS (stupidly) when slightly up at £2.30..look at it now
I think I will hold these for a few more years and see (hopefully divi will increase) ..Although if I do sell they will then be £6 in 3 years time for you guys!
Yea MarkBellUk, there was a lot of confidence around the 300p level at the time that the sp would head much higher, but then some nasty RNS's came out. I've enough invested myself and so declined averaging down when sp was in the 90p's, obviously with hind sight wish I'd loaded up !!
Thank you mick-b.
I wish mate; my average is slightly higher than yours! and I have far too many of these...not quite sure how that even happened to be honest
MarkBellUK, are you sure you didn't mean to 320p as we could do with the higher target price !! My avg is 280p. But well done Lord Cruddas !!
Fyi
CMC Markets Plc : Peel Hunt raises target price to 220p from 200p
Agreed, I was expecting something - Leaky ship!
Thanks Mick
Great increase today, this is on top of the general upward momentum we've had over the last two weeks. I kept expecting to read something on here with regards to what this might be but there has been very little activity. I guess this was it
Operational leverage is working as investors and humble analysts hoped for. The balance between those two large numbers - net operating income and core operating costs - continues to look favourable for investors.
FY 2024 could see NOI of £315m and £240m of core operating costs, leaving £75m of pre-tax profits. The proviso is that this excludes variable remuneration and non-recurring items.
Variable remuneration has historically been quite large, e.g. £17m last year and £16m the year before that.
“Non-recurring items” is new: the company previously didn’t exclude this from its headline measure of operating expenses. So that will be something to watch out for. My guess is that the company will want to put redundancy costs in here, to show investors the one-off impact of its recently announced 17% reduction in headcount.
The FY March 2024 results should be very good, although could be impacted by those one-off costs.
The outlook for FY March 2025 should be excellent then, considering the new product launches, the positive momentum being enjoyed, and the lower cost base.
Of course we’ve just had an “ahead of expectations” trading update, which will require estimates to be revised, but I must say that the existing consensus earnings forecasts look very suspicious to me. CMC’s financial results are volatile and could surprise investors in either direction in FY 2025, but I’d say an upside surprise is more likely.
At a market cap of £579m I still view this as offering good value if the company continues to perform well, although I don’t have the same level of slam-dunk conviction as I had at the beginning of the calendar year. The share price has doubled since then:
https://app.stockopedia.com/content/small-cap-value-report-weds-27-mar-2024-smds-fevr-993290?order=createdAt&sort=desc&mode=threaded
SUBSCRIPTION ONLY -hence printout
Thank fu....
;)
210p
flying....
CMC Markets sees FY operating income at top end of guidance
Exceed expectations means sp rise .
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.
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.