Brokerage company CMC Markets presented its financial results for the year ended March 31, 2023.
Net operating income increased by 2% to £288.4 million, compared to £281.9 million in the previous year. The company said it was able to achieve these results due to growth in client revenue as well as increased interest income as a result of a global rise in interest rates.
CMC Markets' trading net revenue rose 1 percent to 233.1 million pounds from 229.6 million pounds, primarily due to growth in gross client income, CMC Markets said in a press release.
At the same time, pre-tax profit fell 43 percent to £52.2 million from £91.5 million.
The number of active traders fell 9% to 58,737 from 64,243, while trading revenue per client rose 11% to £3,968.
Net investment income decreased by 21% to £37.9 million from £48.0 million due to adverse market conditions caused by an uncertain global economic outlook and inflationary pressures.
CMC Markets announced that it expects net profit to be lower in the first quarter due to calm market conditions, but its expectations for net operating profit growth of 30% from 2022 to 2025 remain unchanged.
In addition, the company will continue to expand its products and invest in its institutional offerings to refresh its product portfolio.
Previously, we wrote that CMC Markets acquired a stake in StrikeX Technologies.
Established in 1989, CMC Markets offers clients a high level of investment protection and favorable trading conditions.
