LONDON (ShareCast) - (Sharecast News) - Online trading platform CMC Markets said on Thursday that while client levels have moderated, it has continued to perform "well" and still expects to achieve its net operating income guidance for FY22.
In an update on trading for the period from 1 April to 30 June, CMC said overall monthly active client numbers remain at similar levels to those 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," it said.

In addition, client income retention remained above 80%, but below the levels reported for FY 2021, as previously guided.

CMC said first-quarter 2022 operating costs are tracking "moderately" higher year-over-year due to a higher headcount, specifically talent for its 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," it said.

"As a result, the board remains confident in achieving net operating income in excess of £330m for FY 2022."

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