CMC Markets Plc Q1 Interim Management Statement (2150M)
27 July 2017 - 4:01PM
UK Regulatory
TIDMCMCX
RNS Number : 2150M
CMC Markets Plc
27 July 2017
27(th) July 2017
CMC Markets Plc
Interim Management Statement
CMC Markets Plc (LSE:CMCX, "CMC" or "the Group"), a leading
global provider of online trading, today issues its Interim
Management Statement for the Q1 2018 period, from 1 April to 30
June 2017.
Revenues have increased during Q1 2018 compared to the same
period in 2017 to be in-line with the more normalised conditions
seen during H2 2017. CMC retains its focus on cost discipline, and
operating costs are broadly unchanged compared to the same period
year-on-year, as well as a cautious approach to the use of
capital.
Active CFD / Spreadbet client numbers have reduced by 1% versus
Q1 2017 due to changes in marketing and the Group's continued focus
on premium clients. The number of premium clients has increased by
10% during the same period and now accounts for approximately 10%
of CMC's overall client base and approximately 75% of revenues.
Overall revenue per client for the Group increased by 9% compared
to the same period last year.
Delivery of the partnership with ANZ remains in-line with the
projected timetable, and all key milestones to date have been met.
As previously guided, the partnership is expected to bring over
250,000 additional active stockbroking clients to CMC's existing
c.50,000 active stockbroking client base in Australia.
The Group continues to monitor changes to the regulatory
landscape and will fully implement changes proposed by Germany's
BaFin by the 10 August deadline. Although there has not yet been a
conclusion to the FCA's consultation in the UK, the Group has not
experienced any change in client behaviour as a result of the
consultation and therefore sees no impact until any changes
proposed are to be implemented by ESMA.
CMC is confident that the strength of the platform, its people
and its client proposition which focuses on premium clients means
the Group will perform well and gain market share over the medium
to long term in a more regulated environment.
Forward looking statements
This trading update may include statements that are forward
looking in nature. Forward looking statements involve known and
unknown risks, assumptions, uncertainties and other factors which
may cause the actual results, performance or achievements of the
Group to be materially different from any future results,
performance or achievements expressed or implied by such forward
looking statements. Except as required by the Listing Rules and
applicable law, the Group undertakes no obligation to update,
revise or change any forward looking statements to reflect events
or developments occurring after the date such statements are
published.
Enquiries
CMC Markets Plc +44 (0) 20 7170 8200
Grant Foley, Chief Operating and Financial Officer
Charlie Steel, Global Head of Corporate Development
Camarco +44 (0) 20 3757 4980
Geoffrey Pelham-Lane
Ed Gascoigne-Pees
Jennifer Renwick
Notes to Editors
CMC Markets plc ("CMC"), whose shares are listed on the London
Stock Exchange under the ticker CMCX, was established in 1989 and
is now one of the world's leading online financial trading
businesses. The company serves retail and institutional clients
through regulated offices and branches in 15 countries, with a
significant presence in the UK, Australia, Germany and Singapore.
CMC Markets offers an award-winning, online and mobile trading
platform, enabling clients to trade up to 10,000 financial
instruments across shares, indices, foreign currencies, commodities
and treasuries through contracts for difference ("CFDs"), financial
spread bets (in the UK and Ireland only) and, in Australia, access
stockbroking services. More information is available at
http://www.cmcmarkets.com/group/
This information is provided by RNS
The company news service from the London Stock Exchange
END
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