CMC Markets expects to close FY 2017 with lower net operating income

CMC Markets expects to close FY 2017 with lower net operating income

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Forex and contracts for difference (CFDs) broker CMC Markets (LSE:CMCX) announced on Thursday its net operating income for the FY 2017, ending 31 March, 2017, is expected to be below the levels reported a year earlier. The broker provided no estimation. In FY 2016, CMC Markets had a net operating income of £169.4 million.

The broker noted that revenue for the second half of FY 2017 is “modestly higher” than in the first half-year.

According to previous reports, in H1 FY 2017, CMC Markets had a net operating income of £75.5 million on the back of a net revenue of £88.2 million. It generated a profit of £14.7 million in April-September 2016.

CMC Markets’ active clients keep growing

CMC Markets also reported an increase in active clients. Traders in CFDs and spreadbetting continued to increase in H2 FY 2017. In H1, the broker saw an 8% growth. The growth is delivering on the broker’s recent partnership with ANZ Share Investing, one of the leading banks in Australia and New Zealand.

Earlier this month, CMC Markets partnered with the bank to service the bank’s entire stockbroking client base, which consists of more than 500,000 retail stockbroking clients. In Australia, the broker already has some 50,000 existing stockbroking clients.

CMC Markets holds a license from the UK’s Financial Conduct Authority (FCA). It is also registered across several countries in the EU, including with France’s Autorite des Marches Financiers (AMF). The brokerage serves retail and institutional clients and has offices in 14 countries with a focus on the markets in the UK, Australia, Germany and Singapore. It offers trading in forex, CFDs, commodities, indices, shares, etc. It got listed on the London Stock Exchange (LSE) in February 2016, raising about £218 million.

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