29th Jul 2021 09:58
(Alliance News) - CMC Markets PLC on Thursday said overall monthly active client numbers for its first financial quarter remain at similar levels to those in the previous financial year.
Shares in the contract-for-difference trading platform operator were down 0.2% to 454.50 pence in London on Thursday morning.
In the three months to June 30, overall monthly active client numbers remain at similar levels as reported for financial 2021, which ended on March 31. These were up around a third from pre-pandemic levels.
For financial 2021, London-based CMC reported 76,591 active CFD clients, up 34% from 57,202 a year before, while Stockbroking active clients rose 28% to 232,053 from 181,630.
Whilst client trading activity has moderated from average financial 2021 levels, CMC said on Thursday, it latest client cohort continues to show characteristics similar to those of clients on-boarded over prior years.
In addition, client income retention remained in excess of 80% but below the levels reported for financial 2021.
Operating costs for the quarter were moderately higher year-on-year due to a higher headcount, specifically for CMC's new non-leveraged investment platform.
"The group continues to have confidence in the robust underlying performance of the business and in conjunction with further progress on its strategic initiatives, including the ongoing development of the non-leveraged investment platform, looks forward to continuing to generate long-term business growth and value. As a result, the board remains confident in achieving net operating income in excess of GBP330 million for financial 2022," CMC said in its trading update.
By Amrit Sahota; [email protected]
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