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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  CMC Markets Plc    CMCX   GB00B14SKR37

CMC MARKETS PLC

(CMCX)
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CMC Markets profit soars amid March trading surge

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06/11/2020 | 04:57am EDT
Financial traders work at their desks at CMC Markets in the City of London

By Aby Jose Koilparambil

CMC Markets reported a surge in pre-tax profit to 98.7 million pounds on Thursday, up from just 6.3 million a year ago as trading firms benefit from the sharp increase in transactions due to the global equities sell-off.

Shares in the firm, founded by Peter Cruddas, former co-treasurer of Britain's Conservative Party, shot up 17.7% to 234.5 pence, their highest since September 2016 and on track to register their best daily performance.

Financial trading platforms have emerged as one of the winners from the COVID-19-related lockdowns as market volatility drove a surge in trading volumes.

"We saw a large amount of interest in markets in general and that translated into a big increase in client acquisitions during the period," Deputy CEO David Fineberg told Reuters, without disclosing customer numbers.

Unlike rival Plus500, which reported a surge in revenue but also a $150 million loss because it was exposed to customers' unusually successful bets, CMC executes trades for customers but is little exposed to whether they win or lose.

"Even looking through the current elevated levels of activity, CMC has a strong, well invested trading platform, and has shown its resilience through the current period," said analysts at Peel Hunt, which rates the stock a "buy".

CMC proposed a final dividend of 12.18 pence per share, bringing the full-year payment to 15.03 pence versus the 2.03 pence a share it paid out last year.

(This story corrects spelling of executes in fifth paragraph)

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Shailesh Kuber and Elaine Hardcastle)

Stocks mentioned in the article
ChangeLast1st jan.
BEST INC. -0.33% 2.99 Delayed Quote.-46.22%
CMC MARKETS PLC -1.87% 314.5 Delayed Quote.114.53%
PLUS500 LTD. -1.81% 1517 Delayed Quote.71.22%
THE GLOBAL LTD. -7.21% 206 End-of-day quote.-56.26%
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Financials
Sales 2021 328 M 422 M 422 M
Net income 2021 126 M 161 M 161 M
Net cash 2021 169 M 217 M 217 M
P/E ratio 2021 7,27x
Yield 2021 6,52%
Capitalization 913 M 1 174 M 1 173 M
EV / Sales 2021 2,27x
EV / Sales 2022 3,08x
Nbr of Employees 752
Free-Float 37,7%
Chart CMC MARKETS PLC
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CMC Markets Plc Technical Analysis Chart | MarketScreener
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Technical analysis trends CMC MARKETS PLC
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 353,20 GBX
Last Close Price 314,50 GBX
Spread / Highest target 20,8%
Spread / Average Target 12,3%
Spread / Lowest Target 3,66%
EPS Revisions
Managers
NameTitle
Peter Andrew Cruddas Chief Executive Officer & Executive Director
James Richards Chairman
Euan Marshall Chief Financial Officer & Director
Brendan Foxen Chief Technology Officer
David Fineberg Deputy Chief Executive Officer & Director
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