Business
Q3 Trading Update
Q3 Trading Update.
About this update from Cmc Markets Plc
[{"type":"text","content":"\n \nRNS Number : 6561A CMC Markets Plc 23 January 2020 \n\n23 January 2020\nCMC Markets Plc\n \nQ3 Trading Update\nFor the three months ended 31 December 2019\n \nCMC Markets Plc (\"CMC\", the \"Group\" or the \"Company\"), a leading global provider of online trading and institutional (\"B2B\") platform technology solutions, today issues its third quarter trading update for the three months ended 31 December 2019 (\"Q3\" or the \"Period\").\nNet operating income continued to outperform expectations in Q3 2020. The strong performance was driven by higher retention of client income in comparison to H1 2020. This resulted in higher revenue per active client despite lower client income due to the weaker market conditions throughout much of the quarter.\nOutlook \nQ4 2020 has started well and in conjunction with the Q3 2020 performance, the Board remains confident in the ongoing strong revenue performance for the full year, with net operating income expected to be ahead of the upper end of the current range of analyst forecasts1. \nAs previously guided, operating costs excluding variable remuneration for the financial year ended 31 March 2020 are expected to be moderately higher than the prior year.\n \nPeter Cruddas, Chief Executive Officer, commented:\n\"CMC's performance continued to be strong during the third quarter. I am delighted that our strategy is delivering excellent results, as we continue to grow and diversify both our B2B and B2C businesses.\nWe continue to have confidence in our ability to deliver further growth through platform partnerships and our strategy of attracting higher valued experienced clients. With the recent and forthcoming regulatory changes, we continue to believe this is the right strategy for the business going forwards, especially as our platform technology means we are an attractive proposition to a wide array of experienced clients and institutional partners around the world. We look forward to building on this momentum over the coming year.\" \nUpcoming results \nCMC expects to announce its full year pre-close trading update on 3 April 2020.\n \nForward looking statements\n \nThis trading update may include statements that are forward looking in nature. Forward looking statements involve known and unknown risks, assumptions, uncertaint...