CMC Markets net operating income up 126% YoY in H1 2020

The global provider of online trading CMC Markets Plc released interim results for the first half of the financial year 2021, ending 30 September 2020.

The group registered record trading performance for the first half of 2020, with net operating income up by 126% YoY to £230.9 million, compared to same period last year when it was £102.3 million). CMC Markets gained momentum in 2020 and continued its streak. The heightened volatility in the markets was a contributing factor, largely stemming from the Covid-19 pandemic which increased trading activity.

CFD gross client income reached 68% YoY rise, representing increased client trading and demand from new and existing clients. CFD revenue per active client was up by 66% to £3,392, with an strategic focus on high quality clients. CFD active clients increased by 42% YoY to 59,082.

CMC Markets

Profit before tax rose 369% YoY to £141.1 million, compared to £30.1 million last year.

Peter Cruddas, Chief Executive Officer, commented:

Peter Cruddas

Peter Cruddas

I am delighted with our record first half performance, which vindicates our strategy of continuing focus on high value clients. I am tremendously proud of the resilience, flexibility and capability displayed by all of my colleagues at CMC, and would like to personally thank them all for their commitment and passion with which they deliver the continued quality service to our clients.

At CMC our goal is to constantly provide a superior and unrivalled online trading experience for our clients and through this period of market uncertainty we have provided a CFD platform with 99.97% uptime. We look to lead with quality and in the period have been able to on-board a record number of high quality clients and deliver significant growth across all of our key businesses.

Cruddas continued:

During the period we continued to recruit new staff, we did not request to participate in any Government financial support schemes and all staff were paid in full through the normal payroll. Our new Chief Technology Officer, Brendan Foxen, has settled in well and is already making a valuable contribution.


For the half year ended

30 September 2020 30 September 2019 Change
Net operating income (£ million) 230.9 102.3 126%
    CFD and spread bet net trading revenue (£ million) 200.4 85.1 135%
    Stockbroking net trading revenue (£ million) 26.3 14.5 82%
    Other income (£ million) 4.2 2.7 53%
Profit before tax (£ million) 141.1 30.1 369%
Basic earnings per share (pence) 38.3 9.5 303%
Dividend per share (pence) 9.20 2.85 223%
CFD gross client income (£ million) 173.6 103.5 68%
CFD client income retention 115% 82% 33%
CFD active clients (numbers) 59,082 41,603 42%
CFD revenue per active client (£) 3,392 2,047 66%

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