CMC Markets revises upwards its FY24 income guidance

CMC Markets Plc (LON:CMCX), a global provider of online retail and institutional platform technology, today issued a trading update for FY 2024.

The Group delivered a strong performance in the third quarter of FY24. This was driven by an improvement in market conditions led by an increased contribution from the B2B and institutional business with the Group benefiting from the long-term investments in this area.

As a result of this strong performance the Group now expects to generate FY24 net operating income of between £290-£310 million from the previously guided range of between £250-£280 million.

Let’s recall that H1 2024 trading net revenue was £87.4 million (H1 2023: £128.4 million), down 32% year-on-year. H1 2024 investing net revenue was £16.8 million (H1 2023: £20.8 million), down 20% year-on-year, due to lower activity and unfavourable market conditions resulting from the uncertainty around the global economic outlook, inflationary pressures and the resultant impact on interest rates.