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Trading statements

CMC profitability significantly higher

28 September 2017 09:13

CMC Markets said profitability for the first half was significantly higher than a year ago with both net operating income and revenue per client up on last time driven by increased client volumes.

It said active CFD/Spreadbet clients for the period were slightly lower than a year ago following the short term interest seen around the EU referendum.

It said the strong increase in net operating income despite the small decline in active clients reaffirmed the firm's continuing focus on high-value, experienced clients.

A trading update said: 'CMC retains its focus on cost discipline and operating costs before variable staff remuneration are broadly unchanged compared to the same period year-on-year.

'Costs in the second half are expected to increase through investment in key marketing initiatives, and the ongoing implementation of the Group's stockbroking partnership with ANZ Bank in Australia, which remains on track for delivery next year.

'Regulation remains a key focus for the firm, and despite profitability in H1 2018 being significantly higher than the same period in 2017, the firm remains cautious about the future outlook given the ongoing regulatory uncertainty and the impact, if any, potential changes could have on Group performance.' The results for the six months to the end of September will be announced on 23 Nov.

At 9:13am: (LON:CMCX) CMC Markets Plc share price was +6.63p at 161.63p

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