CMC Markets Plc, a leading provider of online trading and investment technology, released a positive trading update for its fiscal year ending March 31, 2024 (FY 2024). The company projects its net operating income will surpass the upper range of its previous guidance (£290 – £310 million).
This strong performance follows a robust third quarter and continued momentum in Q4. Driving the success is CMC Markets’ strength in the institutional and B2B sectors, where long-term investments are paying off. The company also boasts a healthy pipeline of B2B partnerships, some nearing completion.
CMC Markets continues to upgrade its platforms and expand its offerings. In February, it rolled out OTC options and is preparing to launch SIPP accounts on its Invest UK platform, enhancing its long-term savings solutions.
The Group expects operating costs for FY 2024 to remain in line with guidance (around £240 million), excluding variable remuneration and non-recurring items. Cost reduction and efficiency initiatives outlined in February continue to yield further opportunities for cost savings, improving profit margins.
