Brokerage CMC Markets has released updated trading figures it expects to achieve in fiscal year 2024.
The broker said that following its last report published on July 27, 2023, market conditions remained sluggish until the end of August, contributing to a 20% year-on-year decline in net trading and investment revenue.
According to the new report, the company's net operating income would be in the range of £250 million to £280 million if market conditions remained unchanged through the end of the 2024 financial year.
The broker noted that key performance indicators, including client money, assets under management, and the number of active clients, have not shown significant changes, indicating that they are stable.
In addition, CMC Markets expects operating costs, excluding variable remuneration, to be approximately £240 million for the fiscal year 2024.
It's worth noting that following the release of the new trading update, CMC Markets' shares fell nearly 20%.
