While the financial year ended on 31 March 2021, CMC markets’ performance portrayed a promising picture with their increasing profit at 127 % before the tax.
CMC markets are online financial trading service providers. According to their financial results shared on the final day of the year, 31 March 2021, the company experienced an increase of 63 % in net operating income since last year. This year, the net operating income is calculated as racing up to £409.8 million. Last year this amount was £224 million before the tax and the previous year £98.7 million.
The company declared their performance in the CFD business. In their report, CFD gross client income accelerated by 39 % and CFD net trading revenue increased by 63%. The cumulated number of active clients of CFD reached up to 76, 591. The number of clients was 57,202, implying a 34% raise.
CEO of CMC markets, Lord Cruddas commented about the latest results they obtained. He stated:
“I am delighted with our record performance, which vindicates our strategy of continuing focus on high-value clients and technology investment. I am tremendously proud of the resilience, flexibility and capability displayed by all of my colleagues at CMC and would like to personally thank them all for the commitment and passion with which they continue to deliver high levels of service to our clients.”
Lord Cruddas added by saying:
“The performance in 2021, building on a strong performance in 2020, is a result of the Group’s unwavering focus on our strategic initiatives. This has delivered increased diversification of Group revenues and improved CFD client income retention. The growing contribution of B2B revenues is also particularly pleasing and will continue to be an important part of our strategy going forward.”
In the early days of March, The institutional division of the brokerage group, CMC Markets Connect expanded its services to FX spot trading. The total revenue of CMC markets per active CFD client is around £4,560 for the year 2021.
SEE ALSO: CMC Markets Review