Q1 2025 Trading Update

CMC Markets Plc

25 July 2024

 

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                      [e-mail]

Camarco                                                                                            

Geoffrey Pelham-Lane                                                            [phone]

Jennifer Renwick                                                                    [phone]

Alex Campbell                                                                        [phone]

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.

 

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