Yearly Operating Income at CMC Markets Rises by 14% in 2014, Costs down 16%

London headquartered financial spread betting, CFD and foreign exchange trading provider CMC Markets, issued a company announcement detailing its results

bi_cmc_identityOne of the biggest providers of financial spread betting, CFD and foreign exchange trading, CMC Markets issued a company announcement detailing its results for the twelve months ending on the 31st of March, 2014.

The London headquartered firm reported its net operating income as increasing by 14% to £122.0 million ($199 million), which is higher by 14% when compared to the previous twelve months. The firm also managed to reduce its costs by 16% to £77.8 million ($127 million) after it concluded its reorganization efforts and introduced its Next Generation platform.

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Bottom line, the company reported profits before taxes amounting to £32.8m, a £36.8m improvement on the £4 million loss marked the prior year, which was blamed in part on negative media attention focused on CMC Markets’ majority owner and Managing Director, Peter Cruddas.

At the end of the reported period, the company boasted £116.5 million ($190 million) in cash with the Group’s Capital Ratio totaling 18.6% (233% pre CRD IV).

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Earnings per share for the year were 8.7p, as CMS resumed paying dividends. Total dividends paid in respect of the financial year were £12 million ($19.5 million), which totals 50% of profits after tax.

According to the company’s announcement, the rollout of the Next Generation platform, as it gained significant traction for the first time, resulted in CMC Markets executing over one million trades via mobile devices in one month.

Commenting on the performance, The company’s CEO Peter Cruddas, stated: “I am pleased with the financial performance of the Group for the year. Our current Next Generation platform offers competitive pricing and automated trade execution, and our results prove this has given us an edge in the industry today.”

He concluded his statement saying: “I would like to thank the CMC Markets team who have worked hard to put us in a great position for the future. I would also like to thank our clients for their continued support.”

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