CMC Markets plc (CMCX) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and thank you for joining CMC's half year 2025 results presentation. On the call with me today is our Chief Financial Officer Albert Solomon and Deputy Chief Executive Officer David Feinberg. I will begin this morning's presentation with a brief overview of some of the key highlights from the half year before handing over to Albert and David, who will cover the financial, operational and strategic highlights in more detail. I will then finish with a summary of our strategic outlook before we take your questions. It has been a strong start to the year for the group as our strategic focus on diversification and expansion continues to drive the business forward. Net operating income for the year is up 45% at £177 million, and our profit before tax rose to £49.6 million, with a significant year-on-year increase in our profits before tax margin, which came in at 28%. This strong financial performance is extremely pleasing to see and is early evidence that our diversification strategy and focused efforts to improve margins and profitability are having good effect. This half year has also been characterized by continued technological innovation, which has resulted in high profile partnerships, including those with Revolut, and ASB Bank. Our Revolut partnership has had a successful soft launch and we are now live in three European countries with plans for future phased rollout to additional regions. Over the past year, I have visited all of our overseas offices to engage with potential clients and our global teams, and this includes my recent visit to Auckland to sign the ASB bank transaction, another high-profile client win for the business. Whilst in Auckland, I also met with the CEO of the New Zealand Stock Exchange to confirm our application to become a mark...