Portfolio

CMC Markets FY net operating income at top end of guidance

By Iain Gilbert

Date: Friday 08 Apr 2022

CMC Markets FY net operating income at top end of guidance

(Sharecast News) - Financial services company CMC Markets said on Friday that the fourth quarter of its recently wrapped up trading year had been its strongest, leaving full-year net operating income at the top end of guidance.
CMC Markets stated annual net operating income was predicted to be approximately £280.0m, a record performance outside of the Covid-19 pandemic period, but did also warn that gross leveraged client income was pegged to have fallen from £335.0m to £288.0m, while leveraged and non-leveraged trading revenues were expected to have slipped 34% and 12% year-on-year, respectively.

Full-year operating costs, excluding variable remuneration, were expected to be approximately £173.0m, up from £168.0m a year earlier, primarily due to higher personnel costs to deliver strategic objectives.

CMC Markets will publish results for the year ended 31 March on 9 June.

Chief executive Peter Cruddas said: "Outside of the pandemic year (financial year ending March 2021), this is a record net operating income result for the company. The performance reflects the ongoing success of our B2B technology partnerships and focus across our leveraged and non-leveraged businesses."

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