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CMC Markets shares fell 14.3% despite a strong first-half performance, with net operating income rising 45% to £177.4 million and a profit of £49.6 million. The decline follows a recent rally, even as the firm remains optimistic about meeting its full-year guidance amid increased market volatility. In contrast, rival IG Group reported a 30% rise in adjusted pre-tax profits, bolstered by improved trading conditions and a £50 million share buyback extension.
CMC Markets has seen significant growth in Australia, generating over £62.3 million in revenue in H2 FY23, surpassing its UK earnings for the first time. In contrast, IG Group's Australian revenue has declined from £65 million in H1 FY21 to £41.1 million in H2 FY24, while Plus500 also reported a drop in Australian earnings. Notably, Singaporean traders are the most lucrative for IG, averaging £4,914 in revenue per trader, compared to £3,054 in the UK and £2,977 in Australia.
The leading trading app in Singapore offers access to over 13,000 markets, including forex, indices, and commodities, with 24/7 trading hours and a suite of risk management tools. Users benefit from 24-hour customer support and a range of analytical features to enhance their trading experience.
CMC Markets Plc
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CMC Markets shares drop despite strong first half performance and market conditions
12:53 23.01.2025
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