CMC Markets (CMCX)

Sector:

Financials

Index:

FTSE 250

 228.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 317.00
  • 52 Week Low: 211.50
  • Currency: UK Pounds
  • Shares Issued: 279.82m
  • Volume: 25,105
  • Market Cap: £637.98m

CMC Markets operating costs seen 5% higher, shares tumble

By Michele Maatouk

Date: Thursday 28 Jul 2022

LONDON (ShareCast) - (Sharecast News) - CMC Markets shares tumbled on Thursday after the online trading platform said operating costs were set to be higher than initially expected.
In a brief update for the period from 1 April to 27 July, the company said net operating income for the year-to-date was in line with levels seen in the same period a year earlier.

Active monthly trading client numbers and client assets under administration across both the leveraged and non-leveraged Australian stock broking businesses remain robust, it said.

"The group continues to focus on delivering a strong business performance for its financial year ending 31 March 2023," CMC said. "Nevertheless, the cost environment remains challenging, and the group now expects operating costs to be in the order of 5% above guidance provided at the time of the FY 2022 results."

The jump in operating costs was put down to a combination of higher personnel and non-personnel costs, including higher professional fees and software costs associated with expansion projects, as well as the impact of the weaker pound.

"Progress towards new business growth across all platforms and geographies continues as planned and all expansion initiatives are on track," CMC added.

At 0830 BST, the shares were down 19% at 247.97p.

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CMC Markets Market Data

Currency UK Pounds
Share Price 228.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 317.00
52 Week Low 211.50
Volume 25,105
Shares Issued 279.82m
Market Cap £637.98m

CMC Markets Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
50.99% above the market average50.99% above the market average50.99% above the market average50.99% above the market average50.99% above the market average
10.57% above the sector average10.57% above the sector average10.57% above the sector average10.57% above the sector average10.57% above the sector average
Price Trend
33.55% below the market average33.55% below the market average33.55% below the market average33.55% below the market average33.55% below the market average
22.14% below the sector average22.14% below the sector average22.14% below the sector average22.14% below the sector average22.14% below the sector average
Income
57.23% above the market average57.23% above the market average57.23% above the market average57.23% above the market average57.23% above the market average
7.69% above the sector average7.69% above the sector average7.69% above the sector average7.69% above the sector average7.69% above the sector average
Growth
0.79% above the market average0.79% above the market average0.79% above the market average0.79% above the market average0.79% above the market average
15.97% below the sector average15.97% below the sector average15.97% below the sector average15.97% below the sector average15.97% below the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 3
Sell 0
Strong Sell 1
Total 6
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

CMC Markets Dividends

  Latest Previous
  Interim Final
Ex-Div 01-Dec-22 14-Jul-22
Paid 05-Jan-23 11-Aug-22
Amount 3.50p 8.88p

Trades for 09-Dec-2022

Time Volume / Share Price
11:13 2 @ 228.00p
10:44 1 @ 228.00p
10:31 1,309 @ 227.45p
10:19 400 @ 227.06p
10:15 500 @ 227.06p

CMC Markets Key Personnel

CEO Peter Cruddas
CFO Euan Marshall

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