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CMC Markets PLC on Thursday said that it would continue to focus on delivering a strong full year performance, despite seeing a decline in activity over the first quarter. Consistent with previous expectations, the London-based online trading platform said that quiet market conditions in the first quarter have led to a decline in client trading and investing activity of between 15% and 20% year-on-year. Its first quarter ended on June 30. These conditions have continued into the second quarter, the firm added. However, CMC also clarified that weaker client activity has been offset by stronger interest income, resulting in overall net operating income tracking at a similar run rate to the same period last year. Underlying key performance indicators, including client money, assets under management, and active clients across both the trading and investing businesses remain robust. Looking ahead, CMC said that it is still focused on delivering a strong business performance for the financial year ending March 31, with investment plans and operating expenses excluding variable remuneration expected to be in line with prior guidance. Progress towards new business growth across all platforms and geographies has continued as expected. CMC’s first half pre-close trading update will be released on October 5. CMC Markets shares were trading 1.8% lower at 145.80 pence each in London on Thursday afternoon. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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