CMC Markets Expects 21% Jump in Half-Year FY23’s Net Operating Income

CMC Markets, a London-headquartered brokerage group, has estimated that its net operating income (NOI) for the first-half (H1) of its fiscal year 2023 (FY 2023), which ended in September 2022, will bring in approximately £153 million, which is 21% year-on-year (YoY) growth.

The online trading service provider, which serves retail and institutional clients across 12 countries, including in the UK, Australia, Germany and Singapore, stated these in its H1 2023 pre-close trading update published on Thursday.

“Underlying market activity improvement through August and September underpinned an improvement in net operating income for the Group in the period,” CMC Markets said.

The broker noted that the business expansion plan to grow its net operating income by 30% over the next three years “through the addition of additional products, and geographical expansion based on the 2022 result and underlying conditions remain on track.”

While CMC Markets expects that its leveraged net trading revenue for the period to jump 27% YoY to approximately £128 million, the Group believes its non-leveraged net trading revenue will drop -14% YoY to approximately £21 million.

During the first six months of its fiscal year 2022, the leveraged and non-leveraged net trading revenues came in at £101 million and £24 million, respectively.