CMC Markets (CMCX) Trading Update summary

Financial performance

• Net operating income for H1 2025 expected at approximately £180 million, a 45% increase from H1 2024.

• Operating costs (excluding variable remuneration and non-recurring charges) projected at £113 million, down 7% year-on-year.

• Profit before tax anticipated at £51 million, a significant turnaround from a £2 million loss in H1 2024.

• Strong results attributed to diversification strategy, B2B segment growth, and sustained client trading activity.

Operational highlights

• Enhanced service offering with expanded cash equities and options products.

• Upcoming launch of cash ISAs in the UK, supported by treasury management and proprietary technology.

• Onboarding of Revolut clients underway, with active trading numbers rising.

• Continued focus on growing profit margins and driving business efficiencies.

Outlook and upcoming events

• Management remains disciplined in investment and cost control to support margin growth.

• Interim results scheduled for release on 21 November 2024.