(Sharecast News) – Online trading platform CMC Markets said on Wednesday that full-year net operating income is set to be at the upper end of market expectations following a continued strong performance, underpinned by high client income retention.
Consensus for net operating income for the full year 2021 is between £370.2m and £387.5m.
In an update for the period from 1 October 2020 to 31 December, CMC said the business has continued to perform “very well”, with high active client numbers resulting in strong client trading activity, albeit at lower levels than earlier in the financial year.
In addition, client income retention remained well above 80%, but below the levels reported for H1 2021, as guided.
CMC said its investment in platform technology continues to attract and retain premium clients, with “market leading functionality and robust operational performance”.
“This was especially evident during the November Pfizer vaccine announcement when our platforms remained resilient and performed very well,” it said. “The business reported no outages during this very volatile trading period.”
Chief executive Peter Cruddas said: “I’m delighted by our performance, and as we enter our final financial reporting quarter, we are focusing on delivering on our premium client strategy through technology, service and a resilient trading platform. In addition, we have a healthy pipeline of projects that will drive new revenue streams, which I will talk more about in the next financial year.”
