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BRIEF-UK's CMC Markets reports lower FY profit amidst quieter markets
June 8, 2017 / 6:19 AM / 4 months ago

BRIEF-UK's CMC Markets reports lower FY profit amidst quieter markets

June 8 (Reuters) - Cmc Markets Plc

* ‍Subdued commission and spread income as clients traded less often in quieter markets​

* ‍With net operating income reducing by 5 pct to 160.8 mln stg (2016: 169.4 mln stg)​

* ‍Reduction in profit before tax of 9 pct to 48.5 mln stg (2016: 53.4 mln stg)​

* ‍Growth in client base with active clients up 5 pct to 60,082​

* ‍Maintaining strong balance sheet with regulatory total capital ratio of 30 pct and own funds of 183.4 mln stg​

* ‍Proposed final ordinary dividend of 5.95 pence, maintaining prior full year ordinary dividend of 8.93p​

* Financial performance at start of fy2018 improved on same period in FY2017 with cautious outlook​

* ‍UK (FCA) consultation: thorough and detailed response provided, likely to lead to an improvement in industry practices and positions group well for future​

* ‍it is disappointing that reduced client activity impacted revenue performance for much of year-ceo​

* Results for year have been somewhat overshadowed by proposals from UK‘S FCA and other european regulators​ Source text for Eikon: Further company coverage:

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