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CMC Markets PLC on Thursday said the next 12 months are expected to be a ‘defining’ period for the group, as it forecast operating income for financial 2027 well above market expectations. The London-based trading platform said pretax profit rose 20% to £101.3 million in the financial year ended March 31 from £84.5 million the year prior, with pretax profit margin improving to 25.8% from 24.8%. Profit was below the £106.7 million company-compiled consensus. Net operating income increased 15% to £392.6 million, ahead of £375.6 million consensus, from £340.1 million in financial 2025, the group’s best performance outside of the 2021 Covid-impacted year. Earnings before interest, tax, depreciation and amortisation grew 14% to £117.8 million from £103.4 million the year before. Basic earnings per share rose 22% to 27.5 pence from 22.6p. Institutional and business-to-business income continued to scale during the year, CMC said, supported by ongoing diversification of its earnings base. The Australian stockbroking business delivered a record performance with net operating income of A$140.3 million, around £74.6 million, up 32% on-year from A$106.3 million, supported by continued growth in client activity and assets under administration. Australian stockbroking partnerships with Westpac Banking Corp and ASB Bank Ltd are progressing well and on track for launch within next 12 months, the company said. Westpac represents a ‘transformational’ partnership, CMC said, with around A$39 billion of assets under administration across half a million share-trading accounts. Looking ahead, CMC said it has reached a ‘key inflection point’, with institutional and B2B partnerships providing access to large embedded client bases, enabling growth at scale with strong capital efficiency and attractive margins. CMC expects net operating income in the year ending March 31, 2027 to rise at least 17% to between £460 million and £480 million, well above consensus of £385.5 million. Operating costs are projected of around £280 million. In response, the FTSE 250 constituent’s shares soared 19% to 437.00p in London on Thursday morning, a new 52-week high. Following the results, RBC Capital Markets raised its share price target for CMC to 460p from 400p and said it is raising financial 2027 and 2028 EPS forecasts by 23% and 30% respectively. The next 12 months are expected to be a ‘defining’ period for the group, CMC said, with a number of significant initiatives scheduled to come online, including the Westpac and ASB Bank partnership, an expansion of the neobank API partnership and entry into European certificates and warrants market. CMC said it has made a positive start to financial 2027. The firm raised its annual dividend by 21% to 13.8p per share from 11.4p, including a final dividend of 8.3p. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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