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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]

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