CMC Markets PLC nears ‘record levels’ in ‘solid’ quarter
The company reiterated that its previous expectation of £250mln-£280mln in net operating income is still on track
CMC Markets PLC (LSE:CMCX) reported a “solid performance” in its latest quarterly earnings update and said both its leveraged and non-leveraged platforms will continue to perform well during 2022.
In the third quarter ended 31 December CMC had “good monthly active client numbers,” Euan Marshall, chief financial officer, told Proactive.
Meanwhile, both its leveraged and non-leveraged platforms “remain close to record levels,” while the online trading platform is confident this will continue into the final quarter and the rest of the year.
The non-leveraged platform consists of stockbroking products and ISA’s and SIPs (systematic investment plans).
“So, in entering this adjacent market, we are moving from what’s a relatively niche market into a more mass-market product where we can capture more share of wallets,” Marshall added.
The company reiterated that its previous expectation of £250mln-£280mln in net operating income is still on track.
“The strategic initiatives that are underway within the business still continue to go well, and that gives us further optimism for the medium and long term of the business,” Marshall concluded.
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