Net operating income is currently tracking in line with market expectations for the year ending 31 March 2023 having recovered strongly in January.
January 25, 2023 - CMC Markets’ announced their Q3 2023 Trading Update today and reported that Net operating income is currently tracking in line with market expectations for the year ending 31 March 2023.
CMC reported that they remain on track to deliver their strategic objectives as previously stated in their H1 23 results and tha management expectations for operating expenditure for FY23 also remain unchanged from prior guidance.
The update underlined that monthly active clients, client money (“AuM”) and assets under administration (“AuA”) in their investing and trading businesses remained stable versus H1 2023.
Their CMC UK Invest business will continue to expand its offering, building on the recent addition of ETFs, ISAs and responsible ESG screening functions.
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.”
CMC will announce its pre-close FY23 update on Friday 14 April 2023
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