June 11, 2020 / 6:19 AM / a month ago

CMC Markets annual profit surges amid soaring transaction volumes

June 11 (Reuters) - Online trading firm CMC Markets on Thursday reported a near 16-fold jump in annual profit, helped by a surge in transaction volumes amid intense market volatility in the fourth quarter fuelled by the coronavirus crisis.

CMC, whose online trading platforms allow individuals to make leveraged bets on financial markets, said profit before tax came in at 98.7 million pounds ($125.05 million) for the year ended March 31, compared with 6.3 million pounds a year earlier.

$1 = 0.7893 pounds Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Shailesh Kuber

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