CMC Markets Anticipates Net Operating Income in FY22 to Reach £280M

CMC Markets Plc, a leading global provider of online trading and institutional platform technology, today issues a trading update for the period from 1 January 2022 to 31 March 2022 ahead of its full year results.

Key Highlights

• ​FY 2022 net operating income expected to be approximately £280 million, at the top end of guidance and a record performance outside of the pandemic period.

• ​FY 2022 gross leveraged client income is expected to be approximately £288 million (FY 2021: £335 million, -14% yoy).

• ​FY 2022 leveraged trading revenue is expected to be approximately £230 million (FY 2021: £349 million, -34% yoy).

• ​FY 2022 non-leveraged trading revenue is expected to be approximately £48 million (FY 2021: £55 million, -12% yoy).

• ​£30 million share buyback commenced 15th March 2022.

• ​CMC Invest, the UK non-leveraged platform already launched internally. 

Q4 was CMC's strongest quarter of the year leaving net operating income at approximately £280 million. Active monthly trading client numbers continue to remain at similar levels as reported earlier in the year. CMC's APAC stockbroking business finished FY 2022 with record AuA and a record number of annual active clients.

Operating costs for FY 2022, excluding variable remuneration, are expected to be approximately £173 million (FY 2021: £168 million). The increase primarily reflects higher personnel costs to deliver strategic objectives.  

Lord Cruddas, Chief Executive Officer, commented:"I am delighted to report another year of strong performance both strategically and financially. Outside of the pandemic year (Financial year ending March 2021), this is a record net operating income result for the company. The performance reflects the ongoing success of our B2B technology partnerships and focus across our leveraged and non-leveraged businesses."

"This business continues to change as we look to utilise our technology to enter new markets and expand our non-leveraged offering. I look forward to updating investors as the strategy expands over both the short and long-term."