Welcome!

News Feed Item

CMC Markets Continues to Strengthen as EBITDA Increases by 260%

LONDON, April 28, 2014 /PRNewswire/ --

CMC Markets plc.[http://www.cmcmarkets.co.uk], one of the leading providers of financial spread betting and CFD trading, announces a strong trading update for the twelve months ending 31st March 2014. The final audited results for the full year will be released by September 2014.

Financial performance 

The Group's financial performance continues to strengthen.

In the twelve month period, the Group has seen a 260 per cent improvement in adjusted EBITDA (earnings before interest, taxes, depreciation, amortisation and bonus costs) to £51.5 million. Its EBITDA margin has remained at the same level as seen in the half-year results at over 40%.

The balance sheet is strengthening even further. Own cash reached £115 million, with minimal debt and a capital adequacy ratio of 233 per cent.

Business developments 

The Group has completed its first full financial year under the new management structure. Since Peter Cruddas took over as Group CEO in January 2013, he has been refocusing the business on client service, and building on a strong trading platform. This strategy has strengthened the Group's financial performance, reinforcing CMC Markets' appeal to high value active traders.

In addition, this approach has generated 33 industry awards worldwide in the year for the Group for service, platform and education, with the accolade "2013 UK Financial Services Provider of the Year" from Shares magazine, being one of the highlights.

Peter has introduced a transparent flat line management structure, alongside the rollout of the Next Generation platform to a total of nine overseas offices. Following the rollout, the Group's award-winning* platform has started to gain significant traction, creating operational cost efficiencies. In March 2014, for the first time, CMC Markets executed over one million trades via mobile devices in one month.

Additionally, the return of the Asia Pacific dealing room from Singapore to Australia, to run alongside the Group's Australian stock broking business in Sydney, was a major success and has created important synergies between the two dealing rooms.

Commenting on the performance, Peter Cruddas, Chief Executive, said: "These are an incredible set of results for the full year. What is pleasing about these results is that they have come on the back of an improved service to clients, including the global release of our Next Generation platform which provides automated trade execution with some of the most competitive trading spreads in the industry today.

"The team has responded well to the major management changes I have implemented, which have resulted in clearer reporting lines and improved transparency throughout the business. I would like to thank them and the rest of the team for their support and hard work. Now we are all aligned from the top down and the culture is to deliver the best possible service to clients. The team are dedicated, focused and excited about the future and quite frankly so am I.

"Client response to the improved platform and client service has been positive and I would like to take this opportunity to thank clients for their continued support.

"I started this company 25 years ago and we will be celebrating later in the year but I have to say in all my time with the company, this feels like the best yet." 

Notes to Editors 

*Awarded Best Online Trading Platform by Money AM and Shares 2013.

Awarded Best Mobile and Tablet App in the Investment Trends 2013 UK Leveraged Trading Report based on highest user satisfaction amongst spread betters and FX traders.

Awarded Best Trading Platform Features in the Investment Trends 2013 UK Leveraged Trading.

Report based on highest user satisfaction amongst spread betters, FX and CFD traders.

CMC Markets is a leading global provider of financial spread betting, CFD and foreign exchange (FX). Since Peter Cruddas founded CMC Markets in 1989, the company now has offices in London, Paris, Milan, Madrid, Frankfurt, Oslo, Stockholm, Toronto, Sydney, Auckland, and Singapore. CMC Markets represents clients in almost 100 countries.

Spread betting, CFDs and FX are leveraged products and carry a high level of risk to your capital as prices may move rapidly against you. It is possible to lose more than your initial investment and you may be required to make further payments. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice.

CMC Markets UK Plc and CMC Spreadbet Plc (collectively known as CMC Markets) are authorised and regulated in the UK by the Financial Conduct Authority, reference numbers 173730 and 170627. For further information on CMC Markets please visit http://www.cmcmarkets.co.uk

CMC Markets is an execution only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

For more information please contact: 

Teamspirit Public Relations on +44-(0)207-360-7878 or [email protected]

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discuss how businesses can gain an edge over competitors by empowering consumers to take control through IoT. We'll cite examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He'll also highlight how IoT can revitalize and restore outdated business models, making them profitable...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
Many banks and financial institutions are experimenting with containers in development environments, but when will they move into production? Containers are seen as the key to achieving the ultimate in information technology flexibility and agility. Containers work on both public and private clouds, and make it easy to build and deploy applications. The challenge for regulated industries is the cost and complexity of container security compliance. VM security compliance is already challenging, ...
SYS-CON Events announced today that ContentMX, the marketing technology and services company with a singular mission to increase engagement and drive more conversations for enterprise, channel and SMB technology marketers, has been named “Sponsor & Exhibitor Lounge Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York. “CloudExpo is a great opportunity to start a conversation with new prospects, but what happens after the...
The pace of innovation, vendor lock-in, production sustainability, cost-effectiveness, and managing risk… In his session at 18th Cloud Expo, Dan Choquette, Founder of RackN, will discuss how CIOs are challenged finding the balance of finding the right tools, technology and operational model that serves the business the best. He will discuss how clouds, open source software and infrastructure solutions have benefits but also drawbacks and how workload and operational portability between vendors...
The essence of data analysis involves setting up data pipelines that consist of several operations that are chained together – starting from data collection, data quality checks, data integration, data analysis and data visualization (including the setting up of interaction paths in that visualization). In our opinion, the challenges stem from the technology diversity at each stage of the data pipeline as well as the lack of process around the analysis.
As machines are increasingly connected to the internet, it’s becoming easier to discover the numerous ways Industrial IoT (IIoT) is helping to shape the business world. This is exactly why we have decided to take a closer look at this pervasive movement and to examine the desire to connect more things! Now if you need a refresher on IIoT and how it is changing the world, take a moment and listen to Greg Gorbach with ARC Advisory Group. Gorbach believes, "IIoT will significantly change the worl...
Enterprise networks are complex. Moreover, they were designed and deployed to meet a specific set of business requirements at a specific point in time. But, the adoption of cloud services, new business applications and intensifying security policies, among other factors, require IT organizations to continuously deploy configuration changes. Therefore, enterprises are looking for better ways to automate the management of their networks while still leveraging existing capabilities, optimizing perf...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit y...
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device. For more information, please visit https://www.mangoapps.com/.
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo New York Call for Papers is now open.
Designing IoT applications is complex, but deploying them in a scalable fashion is even more complex. A scalable, API first IaaS cloud is a good start, but in order to understand the various components specific to deploying IoT applications, one needs to understand the architecture of these applications and figure out how to scale these components independently. In his session at @ThingsExpo, Nara Rajagopalan is CEO of Accelerite, will discuss the fundamental architecture of IoT applications, ...
In his session at 18th Cloud Expo, Bruce Swann, Senior Product Marketing Manager at Adobe, will discuss how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects). Bruce Swann has more than 15 years of experience working with digital marketing disciplines like web analytics, social med...
SYS-CON Events announced today that Enzu, a leading provider of cloud hosting solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to foc...
Customer experience has become a competitive differentiator for companies, and it’s imperative that brands seamlessly connect the customer journey across all platforms. With the continued explosion of IoT, join us for a look at how to build a winning digital foundation in the connected era – today and in the future. In his session at @ThingsExpo, Chris Nguyen, Group Product Marketing Manager at Adobe, will discuss how to successfully leverage mobile, rapidly deploy content, capture real-time d...