Last checked at (Sharecast News) - Online trading platform CMC Markets reported a record first-half performance on Thursday as it benefited from ongoing volatility related to the Covid-19 pandemic.
In the six months to 30 September, pre-tax profit surged 369% to £141.1m, with net operating income up 126% to £230.9m.
Contract-for-differences (CFD) and spread bet net trading revenue rose 135% to £200.4m and stockbroking net trading revenue was up 82% to £26.3m. The dividend per share was lifted to 9.20p from 2.85p.
CMC said there was strong growth in both the CFD and stockbroking areas of the business as Covid-related volatility drove new clients to on-board and dormant clients to reactivate their accounts. CFD active client numbers grew 42% over the half to 59,082.
Chief executive officer Peter Cruddas said: "The significant increase in net trading revenue across all areas of the business in H1 2021 is a result of the group's unwavering focus on our strategic initiatives. This has delivered increased diversification of group revenues, improved CFD client income and an increased number of active clients.
"Looking ahead, while it is still too early to know the full extent of the changes in client trading demand, we have had the ability to demonstrate the strength of our offering and are confident in retaining the high-quality clients we target. I believe that CMC is in an excellent position. We have many opportunities to leverage our technological innovation, quality client service and platform strength, and these will allow us to expand our product portfolio and deliver further profitable growth for the group."
9 Jun 2023 07:49
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