LONDON, September 5, 2014 /PRNewswire/ --
The Group performed strongly throughout the financial year, profit before tax was £32.8m, a £36.8m improvement on the £4 million loss from the prior year.
Net Operating Income increased by 14% to £122.0 million, as the Group's focus on client service, lower client trading costs and the award-winning* Next Generation platform continued to attract higher quality clients.
Operating expenses decreased by 16% to £77.8 million as the full effect of the operational efficiencies arising from the Next Generation platform and reorganisation completed in the last financial year were felt.
The balance sheet continued to strengthen, at the year-end own funds were £116.5 million and the Group Capital Ratio was 18.6% (233% pre CRD IV).
Earnings per share for the year were 8.7p, and the Group has resumed paying dividends. Total dividends paid in respect of the financial year were £12 million, 50% of profits after tax.
This financial year has been the first full year under the new management structure that Peter Cruddas introduced after becoming CEO once again in January 2013. The focus has been on client service and the completion of the roll out of the Next Generation trading platform to all remaining markets.
Following the rollout the platform has started to gain significant traction, and earlier this year, for the first time, CMC Markets executed over one million trades via mobile devices in one month.
This client focussed approach has generated 33 industry awards for service, platform and education, with the accolade "2013 UK Financial Services Provider of the Year" from Shares magazine, being one of the highlights.
The Group remains committed to ensuring that it provides excellent customer service and a trading platform that fully meets clients needs. In the coming year, more products will be introduced as well as the Next Generation "Partner" offering for institutional clients.
Commenting on the performance, Peter Cruddas, Chief Executive Officer, said: "I am pleased with the financial performance of the Group for the year. I founded CMC Markets in 1989, and it is with great pride that following an internal reorganisation we are now celebrating a resurgent CMC Markets and this year being our 25th anniversary.
"I am extremely proud of what has been achieved over the last 25 years. We have been at the forefront of major changes in the industry through technology and product innovation. Our current Next Generation platform offers competitive pricing and automated trade execution, and our results prove this has given us an edge in the industry today.
"As a Group we are fully focussed on globally providing the best service and platform to our clients and I am very excited about the future.
"I would like to thank the CMC Markets team who have worked hard to put us in a great position for the future. I would also like to thank our clients for their continued support."
Notes to Editors
*Awarded Best Online Trading Platform by Shares magazine 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, Beijing and Singapore, CMC Markets represents clients in almost 80 countries.
Spread betting and CFDs 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.
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SOURCE CMC Markets