CMC Markets Plc 3rd Quarter Results (8475C)
January 25 2018 - 2:00AM
UK Regulatory
TIDMCMCX
RNS Number : 8475C
CMC Markets Plc
25 January 2018
25 January 2018
CMC Markets PLC
Q3 Trading Update
Continued focus on high value clients delivers 33% growth in
revenue per client
CMC Markets plc, (LSE: CMCX, "CMC" or the "Group"), a leading
global provider of online retail trading, today issues its trading
update for the period from 1 October to 31 December 2017.
The Group delivered a strong performance in the third quarter,
with net operating income the highest for the year to date,
reflecting the Group's continuing focus on high value, experienced
clients and growing institutional business. Active clients for the
quarter were 6% lower than the same period last year at 38,859, and
4% lower for the year to date. However, the proportion of high
value clients has continued to grow, helping drive revenue per
client up by 33% from the same period last year and 26% on a year
to date basis.
Operating costs before variable remuneration continue to be well
controlled, and the implementation of the Group's stockbroking
partnership with ANZ Bank in Australia remains on track for
delivery in September 2018.
Outlook
CMC remains confident that its strategy and focus on high value
clients will continue to drive growth over time. However, the
regulatory uncertainty continues and the Group remains cautious
around the impact any potential changes could have on Group
performance in the short-term. CMC's longer-term outlook remains
positive and the Group believes that its strategy of targeting high
value, experienced clients, many of whom could be 'elected
professional', together with its proprietary technology puts the
Group in a strong position to manage regulatory change.
Enquiries
CMC Markets Plc +44 (0) 20 7170 8200
Grant Foley, Chief Operating and Financial Officer
Media enquiries
Camarco
Geoffrey Pelham-Lane/Ed Gascoigne-Pees/Jennifer Renwick Tel: +44
(0) 20 3757 4994
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
Article 17 of the Market Abuse Regulation ("MAR"). Upon the
publication of this announcement via Regulatory Information Service
("RIS"), this inside information is now considered to be in the
public domain.
Notes to Editors
CMC Markets plc (CMC), whose shares are listed on the London
Stock Exchange under the ticker CMCX (LEI: 213800VB75KAZBFH5U07),
was established in 1989 and is now one of the world's leading
online financial trading businesses. The company serves retail and
institutional clients through regulated offices and branches in 14
countries, with a significant presence in the UK, Australia,
Germany and Singapore. CMC Markets offers an award-winning, online
and mobile trading platform, enabling clients to trade over 10,000
financial instruments across shares, indices, foreign currencies,
commodities and treasuries through contracts for difference
("CFDs"), financial spread bets (in the UK and Ireland only) and,
in Australia, access stockbroking services.
More information is available at
http://www.cmcmarkets.com/group
Forward looking statements
This trading update may include statements that are forward
looking in nature. Forward looking statements involve known and
unknown risks, assumptions, uncertainties and other factors which
may cause the actual results, performance or achievements of the
Group to be materially different from any future results,
performance or achievements expressed or implied by such forward
looking statements. Except as required by the Listing Rules and
applicable law, the Group undertakes no obligation to update,
revise or change any forward looking statements to reflect events
or developments occurring after the date such statements are
published.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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