London-based online trading firm CMC Markets plc (LSE:CMCX) has released its full-year results for fiscal 2025 (ending March 31, 2025), revealing a slowdown in revenue and profit during the second half of the year (October 2024 to March 2025), following a robust first half.
Leadership Changes at CMC Markets
The company also announced notable changes to its senior management team. David Fineberg, who served as Deputy CEO since 2019, will step down from the Board to assume a newly created role as Global Head of Strategic Partnerships. In this capacity, Fineberg will focus on fostering institutional alliances and accelerating growth through key collaborators like Revolut and blockchain services provider StrikeX.
Laurence Booth, currently Global Head of Capital Markets, will join the Board as an Executive Director starting June 5, 2025. Meanwhile, Matthew Lewis, Head of ANZ and Board Director, will leave the Board but continue to drive expansion in the Australia and New Zealand region, concentrating on stockbroking and digital asset offerings.
Financial Performance Highlights
CMC Markets reported revenues of £162.7 million in the second half of FY2025, marking a second consecutive decline amid growing competition from traditional rivals such as IG Group and Plus500, as well as cryptocurrency exchanges like Crypto.com and Kraken encroaching on retail financial trading.
Net profit also fell for the second half in a row, reaching £26.9 million. For the full fiscal year, the company posted total revenue of £340.1 million and net profit of £62.2 million.
Share Price Movement
Following the announcement, CMC Markets shares dropped roughly 12% at market open. Despite recent volatility, with prices swinging between a high of 349p in late 2024 and a low of 183.4p earlier this year, shares closed at approximately 284.5p, near levels from the previous year.
Strategic Outlook
CMC Markets outlined a forward-looking “three vertical future state” strategy. Alongside its existing Direct-to-Consumer (D2C) brokerage and B2B institutional services, the company plans to embrace the rising influence of Web 3.0, decentralized finance (DeFi), and tokenization as transformative forces in global finance.
To this end, CMC is launching a third strategic business vertical focused on DeFi and Web 3.0 technologies. Key initiatives already underway include 24/7 cryptocurrency trading, enhanced digital asset treasury and payment solutions, and the acquisition of blockchain technology firm StrikeX after the fiscal year-end, which will bolster in-house expertise and infrastructure.
About CMC Markets
CMC Markets Plc operates within the financial technology sector, offering multi-asset trading and investment services. Its platforms serve both retail clients via a Direct-to-Consumer model and institutional clients through Platform Technology as a Service (PTAS), covering both traditional financial markets and emerging decentralized finance ecosystems.
Leave a Reply