CMC Markets UK plc reported revenue of £268.3 million for the financial year ended March 31, 2022, down 32% from £394.1 million in the prior year, according to accounts filed with Companies House.
The online retail financial services provider saw net operating income decline to £254.6 million from £373.7 million, a drop of 32%, as client trading activity normalized following elevated volumes during the pandemic period.
Operating profit fell sharply to £74.9 million from £187.2 million in the prior year, representing a 60% decline. Profit before tax decreased to £73.3 million from £186.0 million, while profit after tax was £59.8 million compared to £150.7 million in the previous period.
The company, which offers contracts for difference on underlying shares, indices, foreign currencies, commodities and treasuries, is authorized and regulated by the Financial Conduct Authority. It operates branches in Australia, Austria, China, Germany, Poland and Spain.
Total assets increased to £591.6 million from £545.3 million, with net assets rising to £516.0 million from £457.9 million. The company held cash and cash equivalents of £39.4 million at year end, with client monies of £87.1 million held separately.
Headcount increased slightly to 502 employees from 484 in the prior year. The directors noted the company has adequate resources to continue in operational existence for the foreseeable future and adopted the going concern basis in preparing the financial statements.
CMC Markets UK plc is a wholly owned subsidiary of CMC Markets UK Holdings Limited, with CMC Markets plc as the ultimate parent company.
