CMC Markets reports increased revenue in fiscal Q1 2018

FCA regulated online CFD brokerage house CMC Markets Plc (LON:CMCX) has today issued its Interim Management Statement for the Q1 2018 period, from 1 April to 30 June 2017.

Revenues have increased during Q1 2018 compared to the same period in 2017 to be in-line with the more normalised conditions seen during H2 2017. CMC retains its focus on cost discipline, and operating costs are broadly unchanged compared to the same period year-on-year, as well as a cautious approach to the use of capital.

Active CFD / Spreadbet client numbers have reduced by 1% versus Q1 2017 due to changes in marketing and the Group’s continued focus on premium clients. The number of premium clients has increased by 10% during the same period and now accounts for approximately 10% of CMC’s overall client base and approximately 75% of revenues. Overall revenue per client for the Group increased by 9% compared to the same period last year.

Delivery of the partnership with ANZ remains in-line with the projected timetable, and all key milestones to date have been met. As previously guided, the partnership is expected to bring over 250,000 additional active stockbroking clients to CMC’s existing c.50,000 active stockbroking client base in Australia.

The Group continues to monitor changes to the regulatory landscape and will fully implement changes proposed by Germany’s BaFin by the 10 August deadline. Although there has not yet been a conclusion to the FCA’s consultation in the UK, the Group has not experienced any change in client behaviour as a result of the consultation and therefore sees no impact until any changes proposed are to be implemented by ESMA.

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