RE: Trading Update3 Jul 2020 16:14
CMCX The online trading platform said that net operating income for its first quarter alone exceeded the figure reported for the first half of its prior financial year. CMC Markets said for the three months to the end of June, the entire business performed very well, with client trading activity at around double that of the same period the year before. Meanwhile, client income retention was materially higher than the 82% reported for the six months ended September 30, 2019, and stockbroking net trading revenue has benefited from the current market conditions. As a result, net operating income for the quarter has risen above GBP102.3 million, which was reported for the interim period of CMC's 2020 financial year. In addition, CMC is confident that its net operating income for the year ending March 31, 2021 to exceed the upper end of its current market consensus, even if client trading activity returns to more normal levels.