CMC Markets Plc H1 2022 Pre-Close Trading Update (2660O)
07 Octubre 2021 - 1:00AM
UK Regulatory
TIDMCMCX
RNS Number : 2660O
CMC Markets Plc
07 October 2021
7 October 2021
CMC Markets Plc
H1 2022 Pre-Close Trading Update
For the six months ended 30 September 2021
Reiterating FY guidance; increased relative contribution from
the non-leveraged business continues
CMC Markets Plc ("CMC" or "the Group"), a leading global
provider of online trading and institutional ("B2B") platform
technology solutions, today issues a trading update for the six
months to 30 September 2021 ("H1 2022" or "the period").
Key Highlights
-- H1 2022 net operating income expected to be approximately
GBP126 million. FY 2022 net operating income guidance reiterated at
GBP250-280 million.
-- H1 2022 leveraged gross client income is expected to be
approximately GBP127 million (H1 2021: GBP174 million).
-- H1 2022 leveraged net trading revenue is expected to be
approximately GBP100 million (H1 2021: GBP200 million).
-- H1 2022 non-leveraged net trading revenue is expected to be
approximately GBP24 million (H1 2021: GBP26 million) representing
19% of Group net operating income versus 11% in H1 2021.
-- Announced the acquisition of over 500,000 share investing
clients of Australia and New Zealand Banking Group Limited ("ANZ"),
with total assets in excess of AUD$45 billion which is due to
complete in the next 12-18 months.
Trading Update
CMC reiterates prior guidance and expects FY 2022 net operating
income to settle in a range between GBP250-280 million. Overall
client AUM remains near record levels. H1 2022 active clients are
moderately lower compared to H1 2021, nevertheless the monthly
trading client numbers continue to remain at similar levels to
those reported earlier in the year. Increased market activity
exiting September led to improved client trading volumes.
H1 2022 leveraged net trading revenue is expected to be
approximately GBP100 million (H1 2021: GBP200 million). The Group's
non-leveraged net trading revenue is expected to be approximately
GBP24 million for H1 2022 (H1 2021: GBP26 million). In H1 our
Australian stockbroking business experienced the highest AUM on
record and finished the period with the highest number of monthly
active clients for the year to date. H1 2022 non-leveraged net
trading revenue is expected to represent some 19% of total Group
net operating income, marking a new high for CMC.
During September 2021 CMC announced the acquisition of over
500,000 Share Investing clients from ANZ, bringing to an end the
existing white label partnership. Ownership of these clients will
continue to support multi-year growth in the region and remains
core to our non-leveraged growth strategy.
Operating costs for H1 2022, excluding variable remuneration,
are expected to be approximately GBP84 million (H1 2021: GBP79
million). As already highlighted, this is primarily a result of the
Group's continued investment in technology which has resulted in
higher personnel costs.
The results for the six months ended 30 September 2021 will be
announced on 17 November 2021.
Lord Cruddas, Chief Executive Officer, commented:
"We closed the first six months with a pickup in market
volatility and client trading volumes following what was a more
subdued environment from the start of the year. More importantly
the big event for the company was the acquisition of the ANZ
stockbroking clients. This transaction, when completed (over a
12-18 month period), will boost our non-leveraged business with
over 500,000 investing clients with total assets in excess of
AUD$45bn. Our non-leveraged business continues to offer the
greatest growth potential and now represents approximately 50 per
cent of our business in Australia and near 20 per cent of the
business overall. This is the highest proportional level since we
launched our non-leveraged platforms. This is even before we
integrate the ANZ transaction. We are on a fast track to
diversification, using our existing platform technology to win B2B
and B2C non-leveraged business. This will be further boosted with
the launch of our new UK investment platform, which will offer both
B2C and B2B potential. We look forward to updating you more in our
H1 results on 17th November 2021".
Enquiries
CMC Markets Plc
James Cartwright, Investor Relations
investor.relations@cmcmarkets.com
Euan Marshall, Chief Financial Officer
Camarco +44 (0) 20 3757 4994
Geoffrey Pelham-Lane
Ed Gascoigne-Pees
Jennifer Renwick
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 Group 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 offers an award-winning, online and
mobile trading platform, enabling clients to trade up to 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/
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