CMC Markets expects over £390 million in operating income for the FY21

Global provider of online trading CMC Markets has issued a trading update for the period from 1 January 2021 to 24 March 2021 ahead of its full-year results.

The London-listed broker revealed that its financial year 2021 net operating income expectations have risen to £390.9 million, ranging from £387.5 million to £399.6 million.

Peter Cruddas, Chief Executive Officer, commented:

Peter Cruddas

Peter Cruddas
Source: LinkedIn

I am delighted by the strong performance of the business so far during the last quarter of our financial year. Our relentless focus on supporting clients with market leading technology and service has fuelled record growth and puts us in a great position as we start the next financial year.

CMC Markets also reported that it expects profit before tax of £210.6 million, ranging from £206.3 million to £217.7 million.

CMC Markets

This is the second time the brokerage is updating its income expectations for the financial year 2021. In January the company expected the net operating income to be £376.6 million, ranging from £370.2 million to £387.5 million.

CMC Markets reported a 135% jump in revenue in the first half of the financial year with around £200 million. The company said it will report its annual figures in June.

The brokerage also registered high active client numbers and expects them to reach 75,000 or the full year.

Cruddas added:

Over the last 12 months, market volatility has driven up client activity across the industry. I am particularly pleased that our new clients are demonstrating similar behaviours to existing long-term, high value clients, which supports our longstanding strategy. Our client acquisition rates are very encouraging and reflect the advancements we have made in our technology, pricing and execution of trades.

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