Interim report
Page 1
For the half year ended Net operating income ( £ million ) Leveraged net trading revenue ( £ million ) Non - leveraged net trading revenue ( £ million ) Other income ( £ million ) Profit before tax ( £ million ) Basic earnings per share ( pence ) Dividend per share ( pence ) Leveraged gross client income ( £ million ) Leveraged client income retention Leveraged active clients ( numbers ) Leveraged revenue per active client ( £ ) Non - leveraged active clients ( numbers ) ● CIIIC cmc markets ● CMC MARKETS PLC Interim results for the half year ended 30 September 2021 ● ● Reiterating FY guidance ; core underlying business trending well above pre - pandemic levels 30 30 30 ● ● September 2021 126.7 101.0 24.2 1.5 36.0 9.6 3.50 127.0 80 % 53,834 1,877 185,847 September 2020 230.9 200.4 26.3 4.2 141.1 38.3 9.20 Notes : Net operating income represents total revenue net of introducing partner commissions and levies Leveraged net trading revenue represents contracts for difference ( " CFD " ) and spread bet gross client income net of rebates , levies and risk management gains or losses 173.6 115 % 59,082 3,392 168,270 -Non - leveraged net trading revenue represents stockbroking revenue net of rebates Leveraged gross client income represents spreads , financing and commissions charged to clients ( client transaction costs ) Leveraged active clients represent those individual clients who have traded with or held a CFD or spread bet position with CMC Markets on at least one occasion during the six - month period Leveraged revenue per active client represents total trading revenue from leveraged active clients after deducting rebates and levies Change ( 45 % ) ( 50 % ) ( 8 % ) ( 63 % ) ( 74 % ) ( 75 % ) ( 62 % ) Key highlights H1 2022 leveraged net trading revenue at £ 101.0 million ( H1 2021 : £ 200.4 million ) down 50 % as a result of a decrease in market volatility resulting in lower client trading activity and client income retention reverting towards guided levels . 17 November 2021 ( 27 % ) ( 35 % ) ( 9 % ) ( 45 % ) 10 % September 2019 102.3 85.1 14.5 2.7 30.1 9.5 2.85 103.5 82 % 41,603 2,047 118,468 Change 24 % 19 % 67 % ( 43 % ) 20 % 1 % 23 % 23 % ( 2 % ) 29 % ( 8 % ) 57 % 1 Leveraged client income retention for the period at 80 % with 53,834 active clients , down 9 % versus H1 2021 , and up 29 % versus pre - pandemic H1 2020 levels . Total client money ( " AUM " ) in the leveraged business stood at £ 557 million , a new period - end record high . H1 2022 non - leveraged net trading revenue was £ 24.2 million ( H1 2021 : £ 26.3 million ) representing 19 % of Group net operating income versus 11 % in H1 2021. Underlying client numbers increased 10 % versus H1 2021 , now standing at 185,847 actives . H1 2022 net operating income was £ 126.7 million . FY 2022 net operating income guidance reiterated at £ 250-280 million . Operating costs for H1 2022 , excluding variable remuneration , were £ 83.7 million ( H1 2021 : £ 79.1 million ) . The increase is primarily a result of the Group's continued investment in technology staff . Variable remuneration costs decreased to £ 6.0 million ( H1 2021 : £ 9.8 million ) . Announced the acquisition of approximately 500,000 Share Investing clients currently trading with CMC through our white label arrangement with Australia and New Zealand Banking Group Limited ( " ANZ " ) . The clients bring total assets in excess of AUD $ 45 billion and the transaction is due to complete in the next 12 18 months . Regulatory total capital ratio of 20.0 % and net available liquidity of £ 182.7 million .