23rd Jan 2025 09:32
(Alliance News) - CMC Markets PLC on Thursday said it remains on track to deliver full-year net operating income in line with previous guidance.
However, shares in CMC were down 12% at 235.50 pence in London on Thursday morning following the release of the third-quarter trading update.
Shore Capital said it would make no changes to its forecasts for CMC following the trading update. The broker has CMC shares as a 'hold' at their Wednesday price of 265p.
CMC, a London-based online trading platform, said it remains on track to meet its cost guidance of approximately GBP225 million for financial 2025, excluding variable remuneration and non-recurring charges. For comparison, full-year operating costs for financial 2024 were GBP254.9 million.
CMC previously had guided net operating income for financial 2025 to be between GBP320 million and GBP360 million, compared to GBP332.8 million in financial 2024.
For financial 2024, CMC reported revenue of GBP324.7 million and a pretax profit of GBP63.3 million.
The company is set to release its full-year results for the financial year ending March 31 on June 5.
Shore Capital said it would make no changes to its forecasts for CMC following the trading update. The broker has CMC shares as a 'hold' at a price target of 265p.
By Eva Castanedo, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights reserved.