Net operating income 21% higher versus H1 2022. Three year growth plan on track. CMC Invest successfully launched in the UK, with Singapore to follow.
|For the half year ended||30 September 2022||30 September 2021||Change|
|Net operating income (£ million)||153.5||126.7||21%|
|Trading net revenue (£ million)||128.4||101.0||27%|
|Investing net revenue (£ million)||20.8||24.2||(14%)|
|Other income (£ million)||4.3||1.5||173%|
|Profit before tax (£ million)||36.6||36.0||1%|
|Basic earnings per share (pence)||10.2||9.6||6%|
|Dividend per share (pence)||3.50||3.50||-|
|Trading gross client income (£ million)||154.9||127.0||22%|
|Trading client income retention||83%||80%|
|Trading active clients (numbers)||50,199||53,834||(7%)|
|Trading revenue per active client (£)||2,558||1,877||36%|
|Investing active clients (numbers)||164,632||185,847||(11%)|
1 30 September 2021 figures restated to include social taxes on FY 2022 annual discretionary bonus to be within variable remuneration
"I am pleased to report another strong performance for the first six months of the year. We saw an acceleration in activity across FX and commodities in addition to the normal activity across our index flow during a period of heightened focus on monetary policy action around the globe and a pickup in market volatility and trading volumes.
Against this backdrop, we are on track to deliver our three-year expansion initiatives aimed at driving higher revenues and diversifying our earnings. We remain committed to improving our offering across our core trading CFD and spread bet businesses, allowing our clients to access a wider range of products through our award-winning platforms. In our Institutional trading business, we continue to grow volumes as a non-bank liquidity provider in the FX spot market. I am also pleased to have launched our new UK investing business, CMC Invest UK. This move in the UK into self-directed investing marks a significant milestone for us and complements our already sector-leading stockbroking business in Australia. CMC Invest UK will see significant new product additions in coming months, enhancing the platform to include ISAs, multi-currency accounts, mutual funds, and SIPPs. The UK wealth market remains an attractive environment and we are on target to offer retail investors a market-leading solution for long-term investment and wealth creation.
I am also excited about the ongoing geographical expansion of our offering into new regions like Singapore. We have committed to launch CMC Invest Singapore by the end of FY 2023. This will complement our already substantial business in Australia, where the migration of the approximately 500,000 ANZ Share Investing client base is set to be completed on time, by the end of this financial year.
We are on a fast track to diversification, using our existing platform technology to win B2B and B2C investing business. Our strategic growth plans are on track and set to deliver significant new business expansion as we introduce new products across our retail, institutional and stockbroking businesses.”
An analyst and investor presentation will be held on 16 November 2022 9:00am UK time. Participants need to register using the links below to access the webcast.
25 January 2023
Q3 2023 trading update
14 April 2023
FY 2023 pre-close update
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.
MAR disclosure statement
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is considered to be in the public domain.
|CMC Markets Plc|
|James Cartwright, Investor Relations||[email protected]|
|Euan Marshall, Chief Financial Officer||[email protected]|
|Geoffrey Pelham-Lane/Jennifer Renwick
+44 (0) 20 3757 4980
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 12 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 and the UK, access stockbroking services. More information is available at http://www.cmcmarketsplc.com