CMC Markets Plc (CMCX.L) reported that its interim profit attributable to owners of the parent for the half year ended 30 September 2024 was 35.26 million pounds or 12.8 pence per share compared to a loss of 2.36 million pounds or 0.8 pence per share in the prior year. Growth was driven by strong trading volumes, particularly in the B2B client segment, and improved trading performance due to favourable market conditions. Investing net revenues were supported by higher assets under administration in Australia aided by favourable exchange rate movements.
Operating costs, excluding variable remuneration, were 111.4 million pounds, down 9% year-on-year, testament to the hard work of the team in driving efficiencies across the business, capitalising on scale and operating model to grow profit margins. This has led to profit before tax of 49.6 million pounds, which compared to a loss of 2.0 million pounds in the prior year.
Net operating income was 177.4 million pounds, up 45% year-on-year, reflecting continued growth across the institutional segment and an increase in client trading activity.
Total revenues for the period grew to 188.24 million pounds from 135.80 million pounds last year.
The Board has proposed an interim dividend payment of 3.10 pence per share compared to 1.00 pence per share paid last year.
The company said it is confident in delivering on the guidance set out at the beginning of the year, with net operating income forecast to be in line with external market expectations.
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