CMC Markets Plc Trading Statement (4028K)
August 25 2023 - 2:00AM
UK Regulatory
TIDMCMCX
RNS Number : 4028K
CMC Markets Plc
25 August 2023
25 August 2023
CMC Markets Plc
FY 2024 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 2024.
Trading Update
Following the update provided on 27th July 2023, subdued market
conditions have continued through August with trading and investing
net revenues trending 20% lower year-on-year. August in particular
has seen a more challenging environment with markedly lower
monetisation of client trading activity due to a higher proportion
of lower margin institutional volume.
Whilst underlying market activity has the potential to recover,
should year-to-date market conditions continue for the remainder of
FY24 then it is expected that net operating income will be between
GBP250 and GBP280 million.
Core KPIs including client money, assets under administration,
and active clients across both the trading and investing businesses
remain robust with no material change seen through recent
weeks.
Management expectations for FY 2024 operating costs excluding
variable remuneration are unchanged at GBP240 million. A further
update on costs will be announced with interim results.
The next scheduled update will be the results for the six months
ended 30 September 2023, due to be announced on 16(th) November
2023.
Development upgrades across both the investing and trading
platforms continue as planned.
Enquiries
CMC Markets Plc
James Cartwright, Chief Operating Officer
investor.relations@cmcmarkets.com
David Fineberg, Deputy Chief Executive 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/
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTNKQBQFBKDOFB
(END) Dow Jones Newswires
August 25, 2023 02:00 ET (06:00 GMT)
Cmc Markets (LSE:CMCX)
Historical Stock Chart
From Apr 2024 to May 2024
Cmc Markets (LSE:CMCX)
Historical Stock Chart
From May 2023 to May 2024