Marex Group plc Announces Full Year 2023 Results and Q1 2024 Update
May 16, 2024- Transformational year thanks to successful organic growth and the benefit of acquisitions
- First quarter profit at the top end of range for preliminary results shows continued strong performance
- Positive momentum continued into the second quarter with good performance in April
NEW YORK, May 16, 2024 (GLOBE NEWSWIRE) — Marex Group plc (‘Marex’ or the ‘Group’), a diversified global financial services platform, announces strong results for the twelve months ended December 31, 2023, and a positive update for the first three months ended March 31, 2024.
Ian Lowitt, Group Chief Executive Officer, commented:
“2023 was another exceptional year where we transformed the scale and scope of the firm and maintained our record of delivering sequential growth over each of the last nine years, with an Adjusted Operating Profit compound annual growth rate of 34%. We continued to deliver on our strategy to expand our capabilities and our geographic reach, providing our growing client base with essential market connectivity, liquidity and hedging solutions.
We also delivered strong performance in the first quarter of 2024, reflecting the strength and scalability of the diversified global platform we have built. We are pleased to report profit at the top end of the range of the preliminary results in our IPO registration statement and significantly higher than the fourth quarter of 2023. We are delighted to have successfully launched our IPO in April and are grateful for the strong investor engagement and support. As we look to the second quarter, we have seen continued positive momentum.
The outlook for Marex remains positive. We have strong momentum in our core businesses bolstered by supportive macro-economic conditions. We continue to consider potential inorganic growth opportunities that will supplement our strong organic growth initiatives, which are proceeding well. We expect to continue to deliver sustainable growth and build an even more diversified and resilient business.”
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