CMC Markets Plc (LON:CMCX), a provider of online financial trading and B2B institutional solutions, today issued a trading update for the six months to 30 September 2024 (“H1 2025”).

The broker expects H1 2025 net operating income to be approximately £180 million, up 45% on prior year (H1 2024: £123 million)

H1 2025 operating costs (excluding variable remuneration and non-recurring charges) are expected to be approximately £113 million (H1 2024: £122 million), a decrease of approximately 7% on prior year

H1 2025 profit before tax are expected to be approximately £51 million (H1 2024: £(2) million).

The company attributed the strong performance to the success of its ongoing diversification strategy, continued expansion of the B2B segment, and sustained levels of client trading activity.

From an operational standpoint, the Group has continued to enhance its service offering across platforms with the expansion of cash equities and options products, as well as the upcoming launch of cash ISAs in the UK underpinned by CMC Markets’ treasury management division and proprietary technology.

The onboarding of Revolut clients has commenced following a soft launch, with the number of clients live and actively trading increasing steadily.

The Group’s interim results are due to be released on 21 November 2024.