CMC Markets (CMCX) Trading update summary

Trading performance and guidance update

• Net operating income for FY2027 is now expected to be at least £550 million, significantly above the previous guidance of £460–480 million.

• EBITDA guidance for FY2027 is set at £250 million, reflecting strong operational performance.

• Operating expenses excluding variable remuneration are maintained at approximately £280 million.

• Exceptional growth in the B2B business is driving operational gearing and higher profit margins.

• Several key B2B milestones and a robust pipeline of new opportunities are anticipated over the next 12 months.

Strategic positioning and outlook

• B2B platforms, products, technology, and partnerships are central to ongoing profit margin expansion.

• The business is leveraging a largely fixed cost base to scale income and profitability.

• The next scheduled update will be at the HY2027 results on 19 November 2026.