Year in review
Our diversification strategy, while creating short-term pressures on resources and returns because of associated costs, will put the Group in a strong position for the longer term.
This will be achieved through an increased product range, the full rollout of the new investment platform, and the expansion of our international business.
Today the Group boasts a broad financial services offering spanning the globe. Through our new API ecosystem, we can add new products and markets quickly for our B2B and B2C clients.
We believe this breadth and level of flexibility, through one industry standard connection protocol, will be the best-in-class B2B and B2C financial services platform on the market.
Founder & CEO
Net operating income1
Statutory profit before tax7
Trading active clients2
Investing active clients2
Trading revenue per active client3
Trading gross client income4
Basic earnings per share7
Ordinary dividend per share5
- Whilst annual trading client numbers are down 9% from 2022, monthly active clients are up 25% compared to pre-pandemic levels
- Retention of trading client income6 of 77% (2022: 80%)
- Continued to enhance the product offering within the CMC Invest UK platform, with future developments on track for release during 2024
- Investment in the institutional business, through enhancements to Spot FX including the launch of Give-Ups, has resulted in a 95% increase in notional volumes
- Operational resilience remains high, with trading platform uptime of 99.97% and investing platform uptime of 99.93%
- Trading revenue per active client up £393 (11%) to £3,968
- B2B represents 31% of net revenue at £83.4 million
This has been an exciting year for the Group; we've made strong progress in data collection, implementing sustainable practices into the operations of the business, while developing the overall strategy and mapping out our goals and objectives.
- Aligned to the frameworks of the Global Reporting Initiative ("GRI") and Sustainability Accounting Standards Board ("SASB") to build robust performance measures into our strategy.
- Pledged to support gender balance across the financial industry and became signatories of HM Treasury's Women in Finance Charter demonstrating our commitment to building a more balanced and fairer industry.
- Introduced Sustainalytics data into the CMC Invest UK platform, for clients to obtain sustainability data on assets, then went one step further and integrated tools for clients to set preferences and screen assets according to sustainability values.
- Evolved our HR capabilities by hiring dedicated diversity, equity and inclusion and learning and development specialists in our London and Sydney offices.
- Established a sustainability subcommittee aligned to the five strategic pillars to provide support to the Sustainability Committee and effectively embed the goals and objectives of the Our Tomorrow strategy into the DNA of our business.
- Introduced CMC's ESG Academy, a targeted learning programme to support the Sustainability Committee and subcommittee in developing their understanding of sustainability topics.
- Engaged with Normative, experts in carbon accounting, to support us on our pathway to net zero and collected our first set of Scope 3 emissions data for both 2022 and 2023.
- Undertook a deeper analysis of our climate-related risks via scenario analysis to enhance our understanding of our climate-related risks and our climate-related disclosures in line with the Task Force on Climate-related Financial Disclosures ("TCFD").
- Nominated and shortlisted for a series of awards: IR Society Awards for "Best Communications in Sustainability"; IR Magazine Awards for "Best ESG Materiality Reporting"; and given a "Leading Light" award from Making the Leap for our efforts in supporting social mobility.
- 1Net operating income represents total revenue net of introducing partner commissions and spread betting levies.
- 2Active clients represent those individual clients who traded or held positions on the Next Generation platforms or traded on the Invest platforms on at least one occasion during the financial year.
- 3Net revenue generated from CFD and spread bet active clients. A reconciliation of revenue alternative performance measures (“APMs”) to the Group’s primary statements can be found on page 188.
- 4Spreads, financing and commissions on CFD and spread bet client trades.
- 5Ordinary dividends paid/proposed relating to the financial year.
- 6The percentage of CFD and spread bet gross client income retained after rebates and gains or losses from risk management activities.
- 72022 and 2021 figures restated. Refer to note 33 for more information on 2022 restatement.