CMC Publishes H1 2023 Performance Forecast
CMC Markets Plc, a leading global provider of online trading and institutional platform technology, issued a trading update for the six months to 30 September 2022.
Financial Highlights
H1 2023 net operating income is expected to be approximately £153 million. (H1 2022: £127 million +21% yoy).
H1 2023 leveraged gross client income is expected to be approximately £155 million (H1 2022: £127 million +22% yoy).
H1 2023 leveraged net trading revenue is expected to be approximately £128 million (H1 2022: £101 million +27% yoy).
H1 2023 non-leveraged net trading revenue is expected to be approximately £21 million (H1 2022: £24 million -14% yoy).
Client leveraged AUM finished at c £530 million, slightly below the historical period-end record of c £560 million but remaining at elevated levels. H1 2023 active leveraged clients are moderately lower compared to H1 2022, offset by an overall increase in activity.
In H1 our Australian stockbroking business finished the period with a modest reduction in AUA from historical record levels which is in line with Australian market performance. Activity remains elevated versus pre-pandemic levels. The migration of over 500,0000 clients as of part the ANZ Share Investing acquisition deal is on track and scheduled to finish in H2 this financial year.
CMC's business expansion plans to grow net operating income by 30% over next three years through the addition of additional products, and geographical expansion based on the 2022 result and underlying conditions remains on track. Further details will be provided in CMC's H1 results on 16th November 2022.
The results for the six months ended 30 September 2022 will be announced on 16 November 2022.
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CMC Introduces CMC Invest to UK Investors
Source: CMC Markets
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