CMC Markets Registers 15% YoY Growth in Total Operating Income for FY24

CMC Markets, a leading global provider of online trading and institutional (B2B) platform technology solutions, today released its final results for the year ended 31 March 2024 (FY24), seeing a yearly growth of 15% in net operating income.

Financial Overview for FY24:

• Net operating income totaled £332.8 million for the year, an increase of 15% compared to £288.4 million in FY23.

• Trading revenue came in at £259.1 million for the year, an increase of 11% compared to £233.1 million in FY23.

• Investing net revenue saw a 10% yearly decline, dropping from £37.9 million in FY23 to £34.0 million for the year.

• Other income surged from £17.4 million to £39.7 million, jumping 128% on a yearly basis.

• Profit before tax registered a 21% growth, rising from £52.2 million in FY23 to £63.3 milllion in FY24.

• Adjusted profit before tax was £80.0 million for the period, 52% higher than £52.6 million in the previous year.

• In FY24, basic earnings per share (EPS) stood at 16.7 pence, increasing 14% compared to 14.7 pence in the prior fiscal year.

Lord Cruddas, CEO of CMC Markets, commented: "Over the past year, a recovery in client trading combined with our diversification strategy through B2B technology and an institutional first approach has delivered strong growth and opened up many opportunities for the company around the world. This strategy, based on continuous product launches and multiple application connectivity through the CMC Markets Connect brand, means we are making great strides in a huge market segment of B2B and institutional business, with limited competition from our peers.

"Building on this strategy this year we will launch a fully integrated multi-asset, multi-currency platform, underpinned by connectivity for B2B and institutional clients, as well as for retail clients. This is bolstered by new product launches including SIPPs, mutual funds (UK Invest), OTC options, cash cryptos, fixed income, and with futures, and exchange-traded options to come. CMC Markets Connect has added a new fintech dimension to our offering and there is no higher endorsement of our company than when a major bank or financial institution trusts our technology to deliver a service to their valued clients.

"Institutional, B2B and multi-asset, multi-currency platforms, across all brands is the future, and ours. We have built the infrastructure which will allow us to significantly increase our growth potential whilst improving profit margins through scale."