CMC Markets interim revenues up 50pc

21st Nov 2024 09:27

(Sharecast News) - Financial services firm CMC Markets said on Thursday that net revenues had surged in the six months ended 30 September, helping the group swing from its interim pre-tax loss a year earlier.

CMC Markets said net revenues were up 50% at £131.3m, while net operating income was 45% firmer at £177.4m and interest income was 46% higher at £23.4m.

As a result, CMC Markets reported a pre-tax profit of £49.6m, a marked improvement on the prior year's £2.0m pre-tax loss. CMC also said its pre-tax margin had improved by 30 basis points to 28%.

Basic earnings per share were 12.8p, up from a 0.8p loss per share a year earlier, and the FTSE 250-listed declared an interim dividend of 3.10p, up 210% year-on-year.

As of 0925 GMT, CMC Markets shares were down 12.70% at 295.50p.

Reporting by Iain Gilbert at Sharecast.com