CMC Markets Forecasts Cut to Reflect StrikeX Impairment -- Market Talk

Dow Jones11-21

0927 GMT - CMC Markets' EPS estimates for fiscal 2025 are lowered by 3% to 20.0 pence to reflect the reduction in the value of its blockchain solutions business StrikeX, RBC Capital Markets' Ben Bathurst says. The online trading platform's FY 2025 earnings are seen as materially derisked. The market is expected to shift focus over the coming months to incremental upside to outer year estimates, he says. These upsides stem from the company's Revolut and ASB Bank partnerships and increasing operating efficiency, Bathurst says. "We believe the results for both 1H 2025 and 2H 2024 better reflect the future profitability of the group, and act as evidence of investment in technology bearing fruit." Shares are down 9.9% at 305 pence. (anthony.orunagoriainoff@dowjones.com)

(END) Dow Jones Newswires

November 21, 2024 04:28 ET (09:28 GMT)

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These upsides stem from the company's Revolut and ASB Bank partnerships and increasing operating efficiency, Bathurst says. \"We believe the results for both 1H 2025 and 2H 2024 better reflect the future profitability of the group, and act as evidence of investment in technology bearing fruit.\" Shares are down 9.9% at 305 pence. 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