Marex Revenue Rises in H1, Boosted by Growth in Agency and Execution

Marex Group posted record first-half earnings as strong growth in its Agency and Execution and Clearing divisions drove a double-digit increase in revenue and profit.

The financial services platform reported H1 revenue of $967.4 million, up 23% from a year earlier, while adjusted profit before tax rose 27% to $202.7 million. 

Reported profit before tax jumped 45% to $201.6 million. The adjusted PBT margin improved to 21.0% from 20.2% a year ago.

Second-quarter revenue increased 18% year-on-year to $500.1 million, with adjusted PBT up 16% at $106.4 million. 

Agency and Execution revenue surged 59% to $260.8 million, supported by strong securities trading, continued expansion of Prime Services, and robust energy markets. 

Clearing revenue climbed 12% to $138.8 million, boosted by market volatility, new clients, and the acquisition of Aarna Capital.

Market Making revenue fell 17% to $57.4 million, reflecting lower metals trading compared with an exceptional prior year, while Hedging and Investment Solutions slipped 9% amid a temporary slowdown in client hedging activity.

Chief Executive Ian Lowitt said the results “validate our strategy and our execution of that strategy,” highlighting the success of recent acquisitions including TD Cowen’s Prime Services business. 

Marex also expanded in July with the acquisitions of Brazil’s Agrinvest and FX specialist Hamilton Court Group, and announced plans to buy UK equity market maker Winterflood Securities.

The company declared a Q2 dividend of $0.15 per share and maintained a robust return on equity of 28% in the quarter.

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