- CMC Markets gives upbeat guidance on annual net operating income.
- The British firm reported £252 million of net operating income last year.
- CMC Markets named Neil Vinall as its new Director of Operations.
In an announcement on Thursday, CMC Markets plc (LON: CMCX) expressed confidence that its full-year net operating income will match the upper end of the present market forecast. The company said that trading remained robust this year due to the Coronavirus pandemic that stirred volatility in the financial markets.
Shares of the company closed the regular session about 2% down on Thursday. CMC Markets plc now has a per-share price of 343 pence that translates to an over 150% growth since its year to date low of 135 pence per share in March. Interested in investing in the stock market online? Here’s a simple guide to get you started.
CMC Markets reported £252 million of net operating income last year
Market Consensus for CMC’s net operating income this year currently stands at £321 million to £348.7 million. In the previous financial year, the online trading platform provider had reported £252 million of net operating income.
Estimate for the company’s annual net operating income was upwardly revised last month when it had expressed confidence that it will blow past the previous consensus. In separate news from the UK, Unite Group forecast an up to 20% decline in rental income on Thursday.
CMC Markets also highlighted on Thursday that Wall Street’s fear gauge, or what is technically known as the CBOE Volatility Index, now stands significantly lower than its peak seen in March. The index, however, was still holding well above last year’s levels.
CMC Markets named Neil Vinall as its new Director of Operations
COVID-19 related increase in volatility, the company added, fuelled transaction volumes in 2020. The novel flu-like virus has so far infected more than half a million people in the United Kingdom and caused over 42 thousand deaths. CMC Markets named Neil Vinall as its new Director of Operations last week as David Worsfold parted ways after 11 years of service at the London-based firm.
For the six months that concluded on 30th September, CMC Markets registered roughly £200 million of net revenue attributed to CFD (contracts for differences) sales, versus a much lower £85 million in the comparable period of last year, representing a 135% annualised increase in the fiscal H1.
CMC Markets performed fairly upbeat in the stock market last year with an annual gain of more than 30%. At the time of writing, it is valued at £997 million and has a price to earnings ratio of 11.47.