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CMC Markets PLC's Peter Cruddas says investment in tech underpins profits surge

Peter Cruddas, chief executive of CMC Markets PLC (LON:CMCX) was in bullish mood when he talked to Proactive Investors. After four profit forecast upgrades last year, the spread better upped annual profits by 1,460% and increased its dividend by 640%, something that Cruddas as a 62.5% shareholder said he was very happy about. Feverish trading in indices, gold and cryptocurrency boosted the numbers but CMC is increasingly about more than just volatile markets, he says. Deals with ANZ in Australia and other white label partners have increased the B2B part of the business to 30% with the aim to get to 50%. CMC is now more a tech business than a financial bookmaker, he adds.

Quick facts: CMC Markets PLC

Price: 331 GBX

LSE:CMCX
Market: LSE
Market Cap: £956.98 m
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