CMC Markets Plc Q1 2019 Trading Update (7838V)
July 26 2018 - 2:00AM
UK Regulatory
TIDMCMCX
RNS Number : 7838V
CMC Markets Plc
26 July 2018
26(th) July 2018
CMC Markets Plc
Q1 2019 Trading Update
CMC Markets Plc (LSE:CMCX, "CMC" or "the Group"), a leading
global provider of online trading, today issues its first quarter
trading update for the three months ended 30 June 2018.
Net operating income for the first quarter was moderately above
the same period last year, with the Group's focus on premium
clients driving an 8% increase in revenue per active client for the
period.
As previously guided, costs for the full year will be moderately
higher than FY18 as the Group continues to invest in strategic
initiatives to drive future growth. Costs for the first quarter are
in line with these expectations.
Regulatory changes introduced by ESMA will take effect from 1
August and the Group continues to grow the proportion of UK and
European revenue that is generated by elective professional
clients. As previously guided, we continue to expect that revenue
from these clients will account for at least 40% of UK and European
revenue (on a rolling 12-month view). Conversion of clients to
elective professional status remains a key focus for the
business.
CMC is making good progress developing its white label
partnership with ANZ Bank in line with its plan. As part of this
transaction, in early July, the Group successfully completed a
major delivery milestone with the migration of 103 intermediaries
to the CMC Stockbroking platform. The migration of ANZ Bank retail
clients, is on track to take place in September.
Peter Cruddas, Chief Executive Officer, commented:
"I am pleased to report that CMC has made a solid start to our
financial year. Our strategy of focusing on high value clients,
technology and partnerships is supporting the delivery of long term
sustainable growth. At the same time, we are successfully
diversifying CMC's business model into markets where we can
leverage our technology, such as through our growing institutional
business and stockbroking partnerships in Australia. We are on
track to deliver another successful year in 2019."
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.
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.
Enquiries
CMC Markets Plc +44 (0) 20 7170 8200
Grant Foley, Chief Operating and Financial Officer
Camarco +44 (0) 20 3757 4980
Geoffrey Pelham-Lane
Ed Gascoigne-Pees
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 company serves retail and
institutional clients through regulated offices and branches in 15
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 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/
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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