Last checked at 27 Mar 2023 15:51
27 March 2023
CMC Markets Plc
FY 2023 Trading Update
CMC Markets Plc ("CMC" or the "Group"), a leading global provider of online retail ("D2C") and institutional ("B2B") platform technology, today issues a trading update for FY 2023.
Trading Update
FY 2023 net operating income is expected to be between £280-290 million. February and March posed a more challenging environment with lower equity volumes and a higher proportion of lower margin institutional trading activity.
Management expectations for FY 2023 operating costs excluding variable remuneration are expected to be in the range of £215-220 million.
Development upgrades across both its investing and trading platforms continue and the expansion in the institutional business remains on track. CMC's diversification strategy in its investment business advances with CMC UK Invest expanding its offering and with the recent award of its regulatory licence, CMC Singapore Invest is due to go live over coming months.
These strategic objectives underpin the expected 30% growth in net operating income based on the 2022 results over the next three years.
CMC will announce its FY 2023 results on Tuesday 13th June 2023.
Enquiries
CMC Markets Plc
James Cartwright, Chief Operating Officer investor.relations@cmcmarkets.com
Euan Marshall, 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/