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UK's CMC Markets reports lower FY profit amidst quieter markets
June 8, 2017 / 6:18 AM / 6 months ago

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

June 8 (Reuters) - British financial spreadbetting firm CMC Markets Plc reported a fall in full-year pretax profit as low levels of volatility resulted in fewer trading opportunities for its clients.

The company, which listed on the London stock market last year, said pretax profit fell 9 percent to 48.5 million pounds in the year ended March 31.

Revenue per active client fell 11 percent to 2,517 pounds, while the number of active clients rose 5 percent to 60,082.

Chief Executive Peter Cruddas set up the company as a foreign exchange broker with a 10,000 pound investment in 1989. Rival companies include IG Group Plc, Denmark’s Saxo Bank and Global Brokerage Inc,which was earlier known as FXCM Inc. (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Sunil Nair)

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