CMC Markets Q1 FY2025 Performance in Line with Expectations

CMC Markets Q1 FY2025 report meets expectations, with net income forecasted between £320-360 million for the year.

Key Highlights:

• Q1 performance aligns with management expectations.
• On track to achieve net operating income of £320-360 million for FY2025
• Progress on institutional and B2B strategy, including the partnership with Revolut
• Initial onboarding of Revolut clients has begun
• Focus on cost efficiencies and margin expansion, particularly in institutional and B2B space.

CMC Markets plc (LON), the London-based online trading firm, has released a Trading Update for the first quarter of its fiscal year 2025, ending June 30, 2024. The company’s performance during this period met expectations, positioning it well to achieve its annual net operating income target of £320-360 million.

CMC Markets Reports Q1 FY2025 Performance in Line with Expectations

The results for Q1 FY2025 align with the management’s earlier projections made in the FY24 results announcement on June 20, 2024. The firm reported steady trading performance and continued progress on its institutional and B2B strategies. CMC’s recent partnership with Revolut underscores this, as the company has begun onboarding clients, with some already active and trading.

The partnership with Revolut will enhance CMC’s standing as a leader in the B2B fintech sector. Leveraging technology and its API ecosystem will drive further innovation. The company anticipates providing more details on the partnership’s development in its half-year results, scheduled for November 2024.

In line with its strategic goals, CMC Markets is concentrating on cost efficiencies and margin expansion, particularly within the institutional and B2B segments where profit margins are projected to grow. The company’s cost base, excluding variable remuneration and non-recurring charges, is anticipated to be approximately £225 million.

The guidance for FY2025 remains unchanged, with expectations for net operating income continuing at the previously stated range of £320-360 million.

CMC Markets will issue its H1 2025 pre-close trading update on October 9, 2024, providing further insights into its performance and strategic initiatives.

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