25 July
2024
CMC MARKETS
PLC
("CMC" the "Group"
or the "Company")
Q1 2025
Trading Update
Q1 performance in line with
expectations.
On track to achieve net
operating income of between £320-360 million.
Consistent with our FY24 results
announcement on 20 June, the Group traded in line with management's
expectations during the first quarter of FY25. Good progress is
being made on our institutional and B2B strategy, as highlighted by
the recent announcement of our partnership with Revolut and an
encouraging pipeline of potential opportunities.
The initial onboarding of Revolut
clients has commenced and some clients are now live and trading.
Further details will be provided at our half year results in
November as the partnership picks up momentum and develops over the
coming months. This exciting and important partnership
reinforces CMC's position as a market leader and innovator in the
B2B fintech space through technology and our API
ecosystem.
As outlined at our full year
announcement, management remains focused on opportunities to drive
additional cost efficiencies and deliver margin expansion,
particularly in the institutional and B2B space, where we see
growing profit margins.
Guidance remains unchanged with the
expectation of net operating income of between £320-360 million in
FY25 on a cost base, excluding variable remuneration and
non-recurring charges, of approximately £225 million.
The H1 2025 pre-close trading update
is scheduled to be released on 9 October 2024.
Forthcoming announcement dates:
9 October
2024
H1 2025 Pre-Close Trading Update
21 November 2024
H1 2025 Interim
Results
Enquiries
CMC
Markets
Plc
Albert Soleiman, Chief Financial
Officer
investor.relations@cmcmarkets.com
Camarco
Geoffrey
Pelham-Lane
+44 (0) 7733 124 226
Jennifer Renwick
+44 (0) 7928 471 013
Alex Campbell
+44 (0) 7710 230
545
Forward looking statements
This trading update may include
statements that are forward looking in nature. Forward looking
statements involve known and unknown risks, assumptions,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Group to be materially different
from any future results, performance or achievements expressed or
implied by such forward looking statements. Except as required by
the Listing Rules and applicable law, the Group undertakes no
obligation to update, revise or change any forward-looking
statements to reflect events or developments occurring after the
date such statements are published.
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 Company 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 Markets
offers an award-winning, online and mobile trading platform,
enabling clients to trade over 12,000 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, Singapore and the
UK, access stockbroking services. More information is available
at http://www.cmcmarketsplc.com.