UK's CMC Markets raises annual profit forecast as B2B demand booms

July 1 (Reuters) - British trading platform CMC Markets raised its annual profit forecast on Wednesday, citing booming demand from its business partnerships, which span banks, brokers and other financial institutions.

Shares of the company surged as much as 25.3% to a record high of 574 pence.

Here are more details:

• CMC forecast net operating income of at least £550 million ($727.92 million) for the year ending March 2027, above its previous outlook of £460 million to £480 million given in June.

• The forecast is also above analyst expectations of £385.5 million, according to a company-compiled consensus.

• CMC has been focusing on expanding its higher-margin business-to-business segment, which provides trading platforms and technology infrastructure to banks, brokers and fintechs.

• "B2B outlook commentary in the statement is upbeat and given potential for further upside from D2C through brand investment, the group's prospects continue to look positive in our view," an RBC Capital Markets analyst said in a note.

• Meanwhile, global markets have also whipsawed since the war in Iran began, boosting trading activity.

• CMC on Wednesday also forecast annual core profit of £250 million.

• The company is scheduled to report its half-year results on November 19, 2026.

($1 = 0.7556 pounds)

(Reporting by Anushka Chourasia in Bengaluru; Editing by Rashmi Aich and Shreya Biswas)