Multi-asset online trading and investing company CMC Markets plc (LON:CMCX) today announced its preliminary results for the year ended 31 March 2026.

CMC delivered another year of strong financial and operational performance, with net operating income increasing 15% to £392.6 million (FY2025: £340.1 million). Performance was driven by continued scaling of institutional and B2B partnerships, elevated client activity levels and record performance from the Australian stockbroking business.

Strong financial performance was accompanied by significant progress against a number of strategic initiatives during the year, including rollout of the multi-asset platform, continued development of the Super App architecture and expansion of the Group’s institutional and B2B footprint. The Australian stockbroking business continued to deliver exceptional growth in assets under administration, turnover and active accounts during the year.

Operating expenses increased year-on-year, reflecting higher variable remuneration associated with the Group’s stronger financial performance, continued investment in strategic growth initiatives and the previously announced remediation provision in Australia relating to an industry-wide margin netting matter.

The result of the above was profit before tax of £101.3 million (FY2025: £84.5 million), with a margin of 25.8% (FY2025: 24.8%). Profit after tax increased to £73.7 million (FY2025: £62.2 million), reflecting the Group’s strong underlying profitability.

Net operating income increased 15% to £392.6 million (FY2025: £340.1 million), supported by higher trading and investing revenues, increased contribution from institutional and B2B channels and resilient treasury income despite the lower interest rate environment.

Net trading revenue continued to represent the majority of Group income, accounting for approximately 74% of the total while the contribution from investing activities continued to increase, supported by record performance in the Australian stockbroking business and growing traction across the Group’s investing platforms.

Net investing revenue increased 30% to £57.8 million (FY2025: £44.4 million), reflecting continued scaling of the Group’s investing operations and another record contribution from the Australian stockbroking business.

The transformational Westpac partnership continued to progress through the build and integration phase during the year and remains on track for launch in 2027. Alongside the previously announced ASB Bank partnership in New Zealand, these relationships are expected to materially increase the scale of the Group’s investing platform over time.

During the year, Invest UK continued to progress a Tier 1 institutional partnership with a major international bank to implement and operate a white-label investment and savings platform.

Alongside this, CMC announced a partnership with leading tech retailer Currys where CMC is working together to bring something unique to the market.

Profit before taxation increased 20% to £101.3 million (FY2025: £84.5 million), with a profit before tax margin of 25.8% (FY2025: 24.8%). The increase reflects strong revenue growth across trading and investing activities and increasing contribution from institutional and B2B channels, partially offset by continued investment in strategic growth initiatives and the Australian remediation provision recognised during the year.

Profit after tax increased 19% to £73.7 million (FY2025: £62.2 million), with basic earnings per share increasing to 27.5 pence (FY2025: 22.6 pence). The Group’s profitability continues to benefit from an increasingly diversified earnings base and scalable technology infrastructure supporting growth across multiple business verticals.

The Board has proposed a final dividend of 8.3 pence per share, bringing the total dividend for FY2026 to 13.8 pence per share (FY2025: 11.4 pence), up 21% year-on-year and consistent with the Group’s policy of returning 50% of after-tax profits to shareholders.

The proposed distribution reflects the Group’s strong financial performance, robust capital position and confidence in the long-term growth opportunity, particularly across the institutional business.

In terms of outlook, the Group said it enters FY2027 with strong momentum, supported by an increasingly diversified earnings base and significant contribution from institutional and B2B partnerships.

The next 12 months are expected represent an important year for the Group, with a number of major strategic initiatives scheduled to come online, including the launch of the Westpac and ASB Bank partnerships, further development of the multi-asset platform and Super App, expansion of the neobank API partnership and ongoing rollout of digital asset and tokenisation capabilities.

Trading in the opening weeks of FY2027 has been encouraging, with healthy client activity levels and strong performance across institutional and B2B channels.

As a result, the Group expects to achieve net operating income for FY2027 of between £460 million and £480 million, with operating costs, excluding variable remuneration, of approximately £280 million.