Financial spread betting and CFD trading provider CMC Markets has cited the impact of its Next Generation platform as the driving force behind “strong” growth during the 12 months through to March 31, 2014.
The company posted profit before tax of £32.8 million (€41.2 million/$53.3 million) in the 2013-14 year, an amount that represents an increase of £36.8 million on the £4 million loss from the previous 12 months.
CMC Markets said that a 14% increase in net operating income to £122 million was down to a focus on client service, lower client trading costs and the ability of Next Generation platform to attract high quality clients.
In addition, CMC Markets was also able to record a decrease in operating expenses, which fell by 16% to £77.8 million due to the full effect of the Next Generation platform.
Peter Cruddas, chief executive officer of CMC Markets, said: “Our current Next Generation platform offers competitive pricing and automated trade execution, and our results prove this has given us an edge in the industry today.
“As a group we are fully focused on globally providing the best service and platform to our clients and I am very excited about the future.”
source : www.igamingbusiness.com