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Annual Results

CMC Markets profits fall

08 June 2017 07:41

Pre-tax profits at CMC Markets fell by 9% to £48.5m in the year to the end of March.

Net operating income was 5% lower at £160.8m and earnings per share fell to 13.7p from 15.1p.

The company has maintained the divided at 8.9p per share.

Chief executive Peter Cruddas said: "Our first full year as a listed company has been one of progress as we have worked hard to position the group for future growth.

"It is disappointing that reduced client activity impacted revenue performance for much of the year, but I am pleased that the strength of our platform, team and service proposition has continued to attract new, high quality clients and our existing clients are putting more money to work with us.

"We have continued to make excellent headway with our five strategic initiatives in 2017 and signed the biggest institutional transaction in our history, our partnership with ANZ Bank.

"Clearly regulatory change is likely to have some impact on the business but we believe we are well positioned to benefit from market share gains in the medium to long term, with our ability to adapt our leading proprietary technology and focus on client service and regulatory compliance supported by our financial strength."

Story provided by StockMarketWire.com

Related Company: CMCX

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