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$CMCX CMC Markets latest Trading Update - Continuing to expand and upgrade its platform products
As per the official Trading Update published today:
- Net operating income is currently tracking in line with market expectations for the year ending 31 March 2023
- While net operating income was weaker towards the end of the calendar year, it has recovered strongly in January. Monthly active clients, client money (“AuM”) and assets under administration (“AuA”) in our investing and trading businesses remain stable versus H1 2023
- The Group remains on track in the delivery of its strategic objectives. Development upgrades across both its investing and trading platforms continue as laid out at its H1 23 results. CMC UK Invest continues to expand its offering with the recent addition of ETFs, ISAs as well as responsible ESG screening functions. Further upgrades remain on track in the coming months
- CMC is also pleased to announce a regulatory grant in-principle for the launch of CMC Singapore Invest marking another milestone in CMC’s geographical expansion
- Management expectations for operating expenditure for FY23 also remain unchanged from prior guidance
Lord Cruddas, Chief Executive Officer, commented:
“2023 is set to be an exciting year for CMC as we continue our growth strategy. Our core initiatives of product expansion, new trading analytics, new pricing functions and enhanced onboarding initiatives remain on track across both our investing and trading platforms. Expansion of CMC Invest continues, with UK marketing spend accelerating over coming months coinciding with delivery of a steady stream of new products and functionality. I look forward to updating the market further at our full year results later this year.”
The stock price return for $CMCX CMC Markets for the past 3 months is 9.68% (Source: Koyfin)
Source: CMC Markets
Source: Koyfin
www.cmcmarketsplc.com
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CMC Markets is a leading global provider of online trading and investing, with a comprehensive retail, professional and institutional offering.
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