CMC Markets has announced that it adjusted its income expectations twice for the current financial year.
With the new adjustment, the income expectation of the company for FY2021 becomes £390.9 million, ranging from £387.5 million to £399.6 million.
According to the previous update, the company’s net income was estimated to be £376.6 million, ranging from £370.2 million to £387.5 million.
The broker also raised its pre-tax profits expectation to £210.6 million, ranging from £206.3 million to £217.7 million.
The company’s success can be traced back to the first half of the financial year. CMC Markets has also reported an %135 increase in revenue in that period with around £200 million.
Peter Cruddas, CMC Markets CEO told: “I am delighted by the strong performance of the business so far during the last quarter of our financial year,” said “Our relentless focus on supporting clients with market-leading technology and service has fuelled record growth and puts us in a great position as we start the next financial year.”
A Better Picture for FY2022 As Well
The key to the magnificent performance of the brokerage is the combination of increased marketing budget and aggressive client acquisition strategy. According to the latest updates, the company expects to close the year with over 75,000 monthly active users. Not only new clients but also existing customers played a huge role in the rise of CMC Markets.
The board of the CMC Markets predicts that the net operating income will fluctuate around £330 million in the financial year 2022.
“Over the last 12 months, market volatility has driven up client activity across the industry. I am particularly pleased that our new clients are demonstrating similar behaviors to existing long-term, high-value clients, which supports our longstanding strategy. Our client acquisition rates are very encouraging and reflect the advancements we have made in our technology, pricing, and execution of trades.”
