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CMC Markets PLC on Thursday reported higher-than-expected operating costs, meaning an impressive jump in annual profit still missed market expectations.
The London-based trading platform said pretax profit rose 33% to £84.5 million in the financial year to March 31 from £63.3 million a year prior, as operating expenses were reduced by 3.2% to £230.2 million from £237.9 million.
Shore Capital analyst Vivek Raja noted pretax profit was 6.3% below £90.2 million consensus and less than his own £92.1 million forecast, while operating expenses were above £225 million guidance.
In response, shares in CMC were down 13% at 247.62 pence each in London on Thursday morning.
CMC said net operating income increased by 2.2% to £340.1 million from £332.8 million a year prior.
The firm flagged record net operating income in Australia stockbroking and a 21% increase in net interest income.
In addition, CMC said it is taking a £4.3 million non-recurring charge relating to customer remediation in Australia following an industry-wide review into margin netting.
The final dividend was increased by 14% to 8.3 pence per share from 7.3p, taking the total payout to 11.4p, up 37% from 8.3p a year ago.
CMC said recent trading has been supportive providing good momentum into financial 2026.
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