Trading platform CMC sees customer base grow after record surge last year
Online trading platform CMC has forecast its net operating income to exceed £330m for its upcoming full-year results after client numbers have lifted in the past few weeks.
Monthly active clients were up around a third from pre-pandemic levels in the weeks to 30 June 2021 but remain at similar levels as reported in its full-year results ending in 2021.
And while CMC’s client income retention has kept its head above 80 per cent, it has not yet crept above levels reported in its last full-year financials.
The investment platform posted record results last year, with lockdown spurring bored homebound users to use trading as a pastime.
Therefore its current results fall in the shadow of a pandemic-induced surge in customers.
CMC now has a higher headcount, it said in a statement, which has increased its operating costs higher.
“I remain confident in the outlook for CMC as we continue to make progress with our strategic initiatives as set out in our recent full-year results and I look forward to updating the market further on these at our half-year results later this year,” CEO Lord Cruddas said.