Shares of UK based online trading provider CMC Markets plc (LON:CMCX) were soaring on Monday, trading up by 23% as of the time of writing in early afternoon trading.
Earlier today CMC Markets released its latest Trading Update for fiscal year 2024 (CMC has a March 31 fiscal year end), indicating a sharp rise in expected Revenues for the year following a disappointing first half (April-September 2023).
After earlier guiding to a Revenue range of £250-£280 million for FY2024 after a first half (6 months to September 30, 2023) which saw CMC bring in just £122.6 million in Revenue – its lowest result since FY2020 – CMC upped its expected Revenue figure for the year all the way to £290-£310 million. Taking the midpoint of that range, that means that after what must have been a very good quarter to end Calendar…
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