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

CMC MARKETS PLC

(CMCX)
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IG Group reports revenue jump on strong client trading

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09/17/2020 | 02:37am EDT

Online trading platform IG Group on Thursday reported a surge in first-quarter revenue as the coronavirus crisis and fears of its impact on the global economy continued to drive up volatility and trading volumes on financial markets.

IG, which provides retail investors access to trade over 17,000 financial markets through its dealing platform and mobile apps, said net trading revenue for the three months ended Aug. 31 jumped to 209 million pounds ($270.51 million) from 129.1 million pounds last year.

"New client acquisition remained strong as a result of continued demand and improved marketing effectiveness across multiple channels, with 34,600 new clients placing a first trade in the quarter, 129% higher than the prior year," the company said.

IG and other industry players Plus500 and CMC Markets have benefited from record levels of volatility in financial markets, first in a widespread global sell-off in February and March, and then in the strong recovery that has brought stock markets back to life since.

IG's positive tone on its performance was in line with Plus500, which earlier this week said revenue has remained strong in its second half to date due to growth in customer numbers as "macroeconomic and sector-specific newsflow continue to provide significant trading opportunities".

(Reporting by Muvija M in Bengaluru; Editing by Anil D'Silva and Sherry Jacob-Phillips)

Stocks mentioned in the article
ChangeLast1st jan.
CMC MARKETS PLC 3.72% 321 Delayed Quote.111.12%
IG GROUP HOLDINGS PLC 1.07% 800 Delayed Quote.13.88%
PLUS500 LTD. -1.56% 1544 Delayed Quote.77.03%
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Financials
Sales 2021 328 M 423 M 423 M
Net income 2021 126 M 162 M 162 M
Net cash 2021 169 M 217 M 217 M
P/E ratio 2021 7,18x
Yield 2021 6,83%
Capitalization 899 M 1 162 M 1 157 M
EV / Sales 2021 2,22x
EV / Sales 2022 3,02x
Nbr of Employees 752
Free-Float 37,7%
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Technical analysis trends CMC MARKETS PLC
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Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 353,20 GBX
Last Close Price 309,50 GBX
Spread / Highest target 22,8%
Spread / Average Target 14,1%
Spread / Lowest Target 5,33%
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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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