The global provider of online trading CMC Markets Plc released its trading update for the first quarter of the financial year 2021, from 1 April to 30 June 2020.
The company reported starting the quarter from a strong position and continuing to perform well. The client trading activity almost doubled compared to the same period the previous year.
Client income retention for Q1 2021 was higher than the 82% reported in H1 2020 and stockbroking net trading revenue also continues to benefit from the market conditions, affected by the coronavirus crisis.
CMC Markets reported its operating income for Q1 2021 in excess of that reported for H1 2020 of £102.3 million.
The Board is confident that, even in the event that more normalised client trading activity returns, with the strong underlying performance of the business, 2021 net operating income will exceed the upper end of current market consensus.
The compiled Full Year 2021 consensus as of 2 July 2020 expecting net operating income of £245.9 million and profit before tax of £85.2 million.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.