Last checked at 25 Jan 2023 07:00
25 January 2023
CMC Markets Plc
Trading Update; Core Initiatives and Strategic Growth Plans Remain on Track
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 the period 1 October 2022 to 23 January 2023 (or the "period").
Trading Update
Net operating income is currently tracking in line with market expectations for the year ending 31 March 2023.
While net operating income was weaker towards the end of the calendar year, it has recovered strongly in January. Monthly active clients, client money ("AuM") and assets under administration ("AuA") in our investing and trading businesses remain stable versus H1 2023.
The Group remains on track in the delivery of its strategic objectives. Development upgrades across both its investing and trading platforms continue as laid out at its H1 23 results. CMC UK Invest continues to expand its offering with the recent addition of ETFs, ISAs as well as responsible ESG screening functions. Further upgrades remain on track in the coming months.
CMC is also pleased to announce a regulatory grant in-principle for the launch of CMC Singapore Invest marking another milestone in CMC's geographical expansion.
Management expectations for operating expenditure for FY23 also remain unchanged from prior guidance.
CMC will announce its pre-close FY23 update on Friday 14 April 2023.
Lord Cruddas, Chief Executive Officer, commented:
"2023 is set to be an exciting year for CMC as we continue our growth strategy. Our core initiatives of product expansion, new trading analytics, new pricing functions and enhanced onboarding initiatives remain on track across both our investing and trading platforms. Expansion of CMC Invest continues, with UK marketing spend accelerating over coming months coinciding with delivery of a steady stream of new products and functionality. I look forward to updating the market further at our full year results later this year."
Enquiries
CMC Markets Plc
James Cartwright, Investor Relations investor.relations@cmcmarkets.com
Euan Marshall, Chief Financial Officer
Camarco +44 (0) 20 3757 4994
Geoffrey Pelham-Lane
Jennifer Renwick
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 12 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/