CMC reports income at top of guidance after stellar performance in fourth quarter
Online trading platform CMC expects its net operating income to be at the top of guidance following a stellar performance in the fourth quarter of FY22.
In the three months ended 31 March, the group’s net operating income will be around £280m, while gross leveraged client income has decreased slightly to £288m, down 14 per cent on FY21 levels.
“Outside of the pandemic year (Financial year ending March 2021), this is a record net operating income result for the company,” said chief executive Lord Cruddas.
“The performance reflects the ongoing success of our B2B technology partnerships and focus across our leveraged and non-leveraged businesses.
“This business continues to change as we look to utilise our technology to enter new markets and expand our non-leveraged offering.”
To reflect CMC’s strong capital position, the group’s board commenced on 15 March a £30m share buyback programme, which will be completed no later than 30 June 2023.