CMC Markets
published in June its preliminary
full-year results for the period ended 31 March 2026. The company delivered a
record performance, driven by a successful institutional-first strategy,
continued expansion through wholesale partnerships, and an increasingly
diversified multi-asset business.
CMC
reported a 15% year-on-year increase in net operating income to £392.6 million.
Statutory profit before tax rose by 20% to £101.3 million, representing the
company’s strongest operational performance since FY 2021, excluding the
exceptional market conditions experienced during the Covid period.
This
momentum has prompted the board to issue FY 2027 net operating income guidance
of between £460 million and £480 million, implying expected growth of at least
17% year-on-year. Rather than focusing solely on the headline figures, it is
worth looking more closely at the structural themes highlighted in the CMC’s
recent presentation, which provide greater insight into the operational drivers
behind these results.
B2B and
API Distribution
The main
driver behind CMC’s recent performance has been the rapid expansion of its
business-to-business (B2B) operations. Over nearly four decades, the company
has invested in building institutional-grade trading infrastructure, which it
is now deploying through API connectivity to accelerate growth across multiple
markets.
The
effectiveness of this strategy is evident in CMC’s neobank API partnership,
where account openings increased by 2,400% in less than a year. This model
allows the company to expand into markets where it has little or no direct
physical or marketing presence, with 70% of these new accounts originating from
markets where CMC previously had no meaningful presence.
The
Capital Flywheel: Funding Retail Growth
Importantly,
CMC is using the scale of its institutional business to support a renewed
expansion of its retail operations. As stated in the broker’s presentation, the
company is using revenue generated from its wholesale business to fund its
direct-to-consumer (D2C) strategy.
Rather than
relying on expensive digital marketing campaigns to acquire retail clients, CMC
has built a capital allocation strategy around four key operational pillars.
Read the
full analysis with all the data and insights on the FM Intelligence Portal.
This article was written by Sylwester Majewski at www.financemagnates.com.
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