𝓤𝓷𝓲𝓽𝓮𝓭 𝓝𝓮𝔀𝓼

Profits have jumped by a fifth at online trading firm CMC Markets in the face of “extreme volatility”.

Shares in the company jumped in early trading on Thursday as a result.

The London-listed group hailed “another year of strong financial and operational performance” as it reported stronger-than-expected trading for the past year.

CMC told investors that net operating income rose by 15% to £392.6 million for the year to March 31, compared with a year earlier.

Bosses said growth was driven by “high levels” of client activity, a strong performance in its Australian stockbroking arm and further momentum in its business-to-business operation.

Meanwhile, pre-tax profits lifted by 20% to £101.3 million for the year, also boosted by its Australian performance.

It stressed the strong recent performance came despite a backdrop of “extreme volatility”, particularly in the second half of the year, highlighting the war in the Middle East and tariffs.

Lord Cruddas, founder and chief executive of CMC, said: “CMC has reached a very exciting inflection point and we now stand ready to enter the next phase of growth, driven by the scale of the platform and infrastructure we have built over recent years.

“Our institutional strategy has created a more diversified, scalable and resilient business model, supported by long-term partnerships, embedded distribution and high-quality recurring client activity.

“We have a clear competitive advantage in this space, built on reputation, delivery, experience and, frankly, a lack of meaningful competition.”

CMC Markets shares were 17.9% higher at 434p in early trading.