CMC Markets full year FY16 Revenues up 18% to £169M, volumes $250B monthly

FCA regulated online trading firm CMC Markets Plc (LON:CMCX) has made its first major financial results announcement as a public company since CMC’s IPO back in February. And it is a good one.

Before getting to the details of the results, we’d remind LeapRate readers that we can’t really see yet the ‘IPO effect’ in the numbers – that is, did CMC Markets business grow as a result of being a public company. CMC has a March 31 fiscal year end, so the results are for the year ended March 31, 2016. As CMC went public in February of this year, only a month or so of the results were achieved post-IPO.

And now, the results.

Revenues at CMC were up 18% in 2016 to £169.4 million (or USD $246 million, up from £143.6 million in 2015), and profits and cash flow followed as well.

In a half-year to half-year comparison, the second half of the year 2016 was a good one for CMC as well, with most of the growth in 2016 coming in the second half of the year October 2015 thru March 2016, as follows:

CMC Markets rev profit 2016 chart

Trading volumes as CMC rose in FY 2016 by 27%, with the value of all trades hitting £2.071 trillion during the year – or just above $250 billion monthly.

Results for 2016 vs. 2015 broke down as follows:

CMC Markets results chart 2016

Peter Cruddas, CMC Markets

Peter Cruddas, CMC Markets

Peter Cruddas, Chief Executive Officer of CMC Markets said of the results:

I am very pleased to report a strong first set of results since we successfully listed on the London Stock Exchange in February 2016.  Our clear strategy to provide our clients with the best trading platform, superior service and competitive pricing, with a strong focus on innovation, has delivered another strong performance, with profit before tax up by over 20%.

But we’re not standing still.  We continue to add new products, open new offices and offer new features and tools through our award-winning Next Generation trading platform. Despite a recent easing of trading activity, with these developments and our excellent team, I am confident that CMC will continue to deliver further strong growth.

More on CMC Markets results for FY 2016 can be seen here.

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