Business
Q1 2025 Trading Update
Q1 2025 Trading Update.
About this update from Cmc Markets Plc
[{"type":"text","content":"\n\n25 July 2024\n \nCMC MARKETS PLC\n(\"CMC\" the \"Group\" or the \"Company\")\n \nQ1 2025 Trading Update\n \nQ1 performance in line with expectations.\nOn track to achieve net operating income of between £320-360 million.\n \nConsistent with our FY24 results announcement on 20 June, the Group traded in line with management's expectations during the first quarter of FY25. Good progress is being made on our institutional and B2B strategy, as highlighted by the recent announcement of our partnership with Revolut and an encouraging pipeline of potential opportunities.\nThe initial onboarding of Revolut clients has commenced and some clients are now live and trading. Further details will be provided at our half year results in November as the partnership picks up momentum and develops over the coming months. This exciting and important partnership reinforces CMC's position as a market leader and innovator in the B2B fintech space through technology and our API ecosystem. \nAs outlined at our full year announcement, management remains focused on opportunities to drive additional cost efficiencies and deliver margin expansion, particularly in the institutional and B2B space, where we see growing profit margins.\nGuidance remains unchanged with the expectation of net operating income of between £320-360 million in FY25 on a cost base, excluding variable remuneration and non-recurring charges, of approximately £225 million.\nThe H1 2025 pre-close trading update is scheduled to be released on 9 October 2024.\n \nForthcoming announcement dates:\n9 October 2024 H1 2025 Pre-Close Trading Update\n21 November 2024 H1 2025 Interim Results \n \nEnquiries\nCMC Markets Plc &nb...