CMC Markets Reports 63% Jump in Net Operating Income
The total profit before tax increased 127% over the year, which ended 31 March 2021.
CMC Markets, an online financial trading services provider, released its financial results for the year ended 31 March 2021 today. The company saw a jump of 63% in its net operating income compared to 2020.
According to the official results, net operating income reached £409.8 million. The financial services provider saw a significant spike in profit before tax as the number touched £224 million, compared to £98.7 million in the previous year.
The company reported a record performance in its CFD business as the CFD gross client income and CFD net trading revenue increased 39% and 63%, respectively. The total number of CFD active clients reached 76,591, which is up by 34% compared to 57,202 in the previous year.
Commenting about the latest financial results, Lord Cruddas, CEO at CMC Markets, said: “I am delighted with our record performance, which vindicates our strategy of continuing focus on high-value clients and technology investment. I am tremendously proud of the resilience, flexibility and capability displayed by all of my colleagues at CMC and would like to personally thank them all for the commitment and passion with which they continue to deliver high levels of service to our clients.”
Earlier this month, CMC Markets Connect, the institutional division of the brokerage group, announced the expansion of its services with the launch of FX spot trading.
CMC Markets reported a total of £4,560 revenue per active CFD client for the year ended 31 March 2021. Stockbroking net trading revenue reached £54.8 million during the last year. “The performance in 2021, building on a strong performance in 2020, is a result of the Group’s unwavering focus on our strategic initiatives. This has delivered increased diversification of Group revenues and improved CFD client income retention. The growing contribution of B2B revenues is also particularly pleasing and will continue to be an important part of our strategy going forward,” Lord Cruddas added in the official press release.