CMC Markets sees first-half profits grow, reiterates IPO plans


British multi asset CFD and spread betting company CMC Markets has earlier today posted its financial report for the six months to September 30, 2015, with the numbers continuing a positive trend already exhibited in the report for the full year to March 31, 2015.

The latest report also features comments by CMC Markets’ CEO Peter Cruddas on the broker’s IPO plans, saying that the company is still pursuing these.

Let’s check out some of the key financial metrics for the six months to September 30, 2015:

  • Total revenues for the period amounted to £89.15 million, up 38% from the equivalent period a year earlier.
  • Pre-tax profit for the period was £26.5 million, up 90.7% from a year earlier.
  • Net profit surged 77.3% year on year to £20.03 million.
  • Total assets at the end of period stood at £203.2 million, whereas total equity stood at £152.5 million.

inside_cmc_markets_6mo_2015

Regions

Across regions, all of them witnessed a steep rise in revenues. In the UK, net revenues rose 53% year on year, in Europe the growth was 12%, in Australia and New Zealand – robust 21%, whereas Singapore and Canada (aka Rest of the World) delivered an annual jump in revenues of 168%.

The value of client trades executed was a record £1,112 billion, a rise of 60% over last year with this increase coming across all regions.

Dividend

The board has decided to increase the half year dividend and will pay £15.0 million in total, of which £10.0 million will be paid as an interim dividend and £5.0 million as a special dividend.

IPO plans and Board changes

The Group keeps preparing for a potential listing on the London Stock Exchange. As part of that preparation Peter Cruddas announced that Manjit Wolstenholme and Malcolm McCaig will shortly be joining the Board subject to FCA approval.

Current trading and outlook

Following a period of increased volatility in August and September, the broker saw a more subdued October although the business still traded well. The Countdown product continues to grow and was launched in many of our offices this month with the full binary offering set for early 2016.

You can view the official announcement from CMC Markets by clicking here.

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CMC Markets sees first-half profits grow, reiterates IPO plans

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