Marex: Marex Group plc provides preliminary Q1 results range and hosts Investor Day in New York

NEW YORK, April 02, 2025 (GLOBE NEWSWIRE) -- Marex Group plc (NASDAQ:MRX) ('Marex'), the diversified global financial services platform, provides a Q1 trading update at its Investor Day, being held today at the Nasdaq Marketsite in New York City.Marex reports a strong start to the year with positive momentum and supportive market conditions continuing through the first quarter of 2025. Client activity has remained strong across the platform with high levels of exchange volumes driven by volatility. Agency and Execution has benefited from strong performance in the Prime Services business and continued progress in the Energy business.As a result, first quarter 2025 revenues are expected to be in a range of $449.3 to $464.3 million (Q1 2024: $365.8 million) and Adjusted Profit Before Tax2 in a range of $92.3 to $97.3 million (Q1 2024: $67.7 million).Ian Lowitt, CEO, stated: "Very robust levels of client activity across our businesses and positive market conditions have continued into 2025 and led to a strong performance in the first quarter of the year, building on our performance in 2024. These benefits more than outweighed the impact of lower net interest income partly arising from the interest rate environment, compared to the fourth quarter of 2024. This demonstrates the successful execution of our strategy to diversify our business and deliver sustainable growth through a variety of market conditions by expanding our geographic footprint and product capabilities, increasing our relevance to a growing client base."Preliminary Q1 2025 results rangeWe have not yet completed our closing procedures for the three months ended March 31, 2025. The table below are certain estimated preliminary unaudited financial results for the three months ended March 31, 2025: 3 Months ended March 31, 20251 3 Months ended March 31, 2024Unaudited ($m)Estimated LowEstimated High ActualsRevenue449.3464.3 365.8Reported Profit Before Tax94.4102.1 58.9Tax24.526.5 15.3Reported Profit After Tax69.975.6 43.6Adjusted Profit Before Tax292.397.3 67.7 Profit After Tax Margin16%16% 12%Adjusted Profit Before Tax Margin221%21% 19% Basic Earnings per Share ($)30.941.02 0.60Diluted Earnings per Share ($)30.880.96 0.56Adjusted Basic Earnings per Share ($)2,30.940.99 0.74Adjusted Diluted Earnings per Share ($)2,30.880.93 0.69Figures reflect certain estimated preliminary unaudited financial results for the three months ended March 31, 2025. Estimates represent results that are preliminary and subject to change. Actual results will not be finalized until after we complete our normal quarter-end accounting procedures, including the execution of our internal ...Full story available on Benzinga.com