CMC Markets PLC (LSE:CMCX) shares jumped over 9% higher as the online broker followed a recent deal with Revolut by announcing full-year results well ahead of consensus forecasts.
Adjusted profit before tax zoomed up 52% to £80 million as trading net revenue rose 11% to £259.1 million in the year to 31 March 2024.
A final dividend of 7.3p meant the total dividend was hiked 12% to 8.3p per share.
CEO Peter (Lord) Cruddas said the past year has seen a recovery in client trading, which was combined with the company's diversification strategy into B2B technology and an "institutional first approach".
On the outlook, the company said: "Having reached the peak of the investment cycle, management continues to seek opportunities to drive further cost efficiencies and deliver margin expansion, whilst investing in significant opportunities for incremental growth."
Management is guiding to net operating income of between £320-360 million in the new financial year on a cost base, excluding variable remuneration and non-recurring charges, of approximately £225 million.
Analysts at Jefferies said the new revenue guidance is between 2% and 15% ahead of the current City consensus, implying roughly 25p-35p of EPS versus a current average forecast of 17.1p - in other words 46% to 105% higher.