CMC Markets profit rises as volatile markets boost volumes

(Reuters) - British financial spreadbetting firm CMC Markets Plc reported a jump in full-year pretax profit as its clients traded more during heightened market volatility. The company, which listed on the London stock market in February with a valuation of 691 million pounds ($1.01 billion), said pretax profit rose 23 percent to 53.4 million pounds in the year ended March 31. Chief Executive Peter Cruddas set up the company as a foreign exchange broker with a 10,000 pound investment in 1989.