CMC Markets PLC (LON:CMCX) has said its net operating income in the current financial year will be towards the upper end of the current range of forecasts.
The six months to the end of September 2020 saw the spread-betting firm put in a record performance, with strong trading across all parts of the business.
Net trading revenue from certificates for deposit (CFDs) during the period shot up to around £200mln from £85mln in the corresponding period of 2019.
The group's stockbroking business saw net revenue almost double to £26mln from £14mln last year, driven by its white label partnership with ANZ Bank and an increase in client trading activity.
The group continues to invest heavily in technology and revealed in its trading update that operating costs for the half-year will be around £80mln, up from £65mln last year.
"I am delighted with our record first-half performance, which vindicates our strategy of diversification and continuing focus on high-value clients. The performance is particularly pleasing given that the financial year began in the midst of the global COVID-19 pandemic,” Peter Cruddas, the chief executive of CMC said in the trading update.
“During the period we continued to recruit new staff, we did not accept any Government financial schemes and all staff were paid in full through the normal payroll. Our new chief technology officer Brendan Foxen has settled in well and is already making a positive impact with the existing technology teams.
“I believe that CMC is in an excellent position with many opportunities to leverage our reputation for technological innovation, quality client service and platform stability to expand our product portfolio and deliver further diversification for the group and ongoing returns for shareholders over the coming years," Cruddas added.