Ahead of its AGM Wednesday, CMC Markets plc (LON:CMCX) shares plummeted 13% on the worst day since listing earlier this year.
In an announcement this morning, the spread-betting group admitted low levels of volatility were providing fewer trading opportunities for its clients.
As a result, it expects net income for the six months to the end of September to come in lower than the same period last year.
It is confident however that net operating income will improve in the second half through its larger funded client base, growing institutional offering and new product development. The group said it also continued to focus on cost control.
The group said it remained focussed and confident of achieving the target of £220mln net operating income by 2020.
For the five months to August, new clients rose 19% and active clients were up 9% compared to last year.
Client money balances were also higher, up 21% on the same point last year.
In February, it listed at 240p, shares now stand at 245p.