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Online trading brokerage CMC Markets upgraded its outlook on annual profit following strong fourth-quarter performance.
For the financial year ended 31 March 2021, net operating income was now expected to be 'slightly ahead' of the upper end of the current range of consensus of £399.61 million, the company said.
For fiscal 2022, the company raised its expectations to deliver net operating income in excess of £330 million.
'The entire business has continued to perform very strongly during the period, with ongoing strength in the acquisition and retention of CFD and stockbroking active clients and higher levels of client trading activity versus regular trading periods,' it added.
Client income retention remained well in excess of 80%, but below the levels reported for the first half of 2021, as previously guided.