CMC Markets UK plc reported revenue of £298.6 million for the financial year ended March 31, 2024, a 12% increase from £266.6 million in the prior year, according to accounts filed with Companies House.
The online retail financial services provider posted a profit before tax of £81.4 million, up 38% from £59.1 million in fiscal 2023. Profit after tax rose 29% to £65.9 million from £51 million the previous year.
Net operating income increased to £293.3 million from £251.4 million, while operating profit jumped to £60.5 million compared with £49.1 million in the prior period. The company recorded operating expenses of £220.5 million, up from £201.9 million.
The company recognized impairment charges of £12.3 million on intangible assets during the year, compared with £432,000 in fiscal 2023. Interest received from related parties totaled £22.4 million, nearly double the £11.3 million recorded in the prior year.
Average headcount grew to 583 employees from 625 in the previous year. Total directors and employee costs reached £80.6 million, up from £63.4 million.
CMC Markets UK declared a dividend of £151.4 million for the period ended March 31, 2024. The company’s net assets decreased to £480.9 million from £564.4 million at the prior year end.
The company, a wholly owned subsidiary of CMC Markets UK Holdings Limited, provides contracts for difference trading on shares, indices, foreign currencies, commodities and treasuries, regulated by the Financial Conduct Authority.
