CMC Markets Plc Q1 2022 Trading Update (8270G)
July 29 2021 - 2:00AM
UK Regulatory
TIDMCMCX
RNS Number : 8270G
CMC Markets Plc
29 July 2021
29 July 2021
CMC Markets Plc
Q1 2022 Trading Update
Sustained performance underpinned by enlarged client base and
high client income retention
CMC Markets Plc ("CMC" or the "Group"), a leading global
provider of online trading and institutional ("B2B") platform
technology solutions, today issues a trading update for the period
from 1 April 2021 to 30 June 2021 ("Q1 2022" or the "period").
Trading Update
In Q1 2022, CMC has continued to perform well. Although it is
still early in the year, overall monthly active client numbers
remain at similar levels as reported in 2021, which were up around
a third from pre-pandemic levels. As previously stated, whilst
client trading activity has moderated from average FY 2021 levels
our latest client cohort continues to show characteristics similar
to those of clients onboarded over prior years. In addition, client
income retention remained in excess of 80%, but below the levels
reported for FY 2021, as previously guided. Q1 2022 operating costs
track moderately higher year over year as guided due to a higher
headcount, specifically talent for our new non-leveraged investment
platform.
The Group continues to have confidence in the robust underlying
performance of the business and in conjunction with further
progress on its strategic initiatives, including the ongoing
development of the non-leveraged investment platform, looks forward
to continuing to generate long-term business growth and value. As a
result, the Board remains confident in achieving net operating
income in excess of GBP330 million for FY 2022.
Lord Cruddas, Chief Executive Officer, commented:
"I'm pleased with our start to this financial year following a
record FY 2021. The team is focused on continuing to provide an
excellent service to our clients, both in terms of uptime and
providing an innovative, market-leading platform.
I remain confident in the outlook for CMC as we continue to make
progress with our strategic initiatives as set out in our recent
full year results and I look forward to updating the market further
on these at our half year results later this year."
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.
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
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 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 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/
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END
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