CMC Markets backs FY guidance after in-line Q3
By Michele Maatouk
Date: Wednesday 26 Jan 2022
(Sharecast News) - CMC Markets backed its full-year guidance on Wednesday as it said its performance in the third quarter was in line with expectations.
The online trading platform said it delivered "sustained" performance across both leveraged and non-leveraged operations, while continuing to invest in the development of the UK non-leveraged platform.
Client money across both businesses remains "close to record highs", it said, while monthly active client numbers remains at similar levels to those in in the first half.
CMC hailed good progress with its strategic initiatives, including the ongoing development of the UK non-leveraged investment platform, and said it was confident of achieving FY22 net operating income of £250m to £280m, consistent with prior guidance.
Chief executive Lord Cruddas said: "I am pleased with the ongoing trends we're seeing in client money, and physical share assets in Australia. In addition, the team is on track to launch our new UK investment platform in the first half of the calendar year.
"I remain confident in the outlook for CMC as we make progress with our strategic initiatives as set out in our recent half year results and I look forward to updating the market further on these at our full year results later this year."
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