Marex reports strong Q1 growth and profit surge driven by increased revenue, trading income, and improved operating margins.
Marex reports strong Q1 growth and profit surge driven by increased revenue, trading income, and improved operating margins.
Marex Group plc today announced its financial results for the Q1 of 2025, delivering impressive growth across all key metrics. The company reported a 28% increase in revenue to $467.3 million, up from $365.8 million in the same period last year. This surge was driven by robust client activity and favorable market conditions, as Marex continued to expand and diversify its global financial services platform.
Net commission income rose by 15% to $250.7 million, fueled by a 22% increase in Agency and Execution, which reached $182.9 million. This gain reflected strong performances in Securities and Energy, supported by record transaction volumes. Simultaneously, net trading income soared by 50% to $159.1 million, with a $40.8 million increase in Agency and Execution attributed to growth in Rates, FX, and Equities. Marex’s Prime Services played a pivotal role, contributing $33.4 million due to the expansion of its securities-based swaps offering.
In addition, the Market Making segment posted a $10.7 million increase in trading income, reaching $54.9 million. This growth spanned all asset classes. Meanwhile, net interest income climbed by 50% to $53.4 million, reflecting a $5.8 billion rise in average balances, which more than offset lower Fed Funds rates compared to Q1 2024.
Operating costs also rose in line with revenue. Front office expenses grew by 23% to $258.4 million, driven by higher compensation tied to performance. The company noted a shift in headcount due to restructuring in Agency and Execution, with an 11% year-on-year increase in front office staffing, excluding reallocations. Control and support costs climbed 33% to $106.8 million, largely due to investments in technology, risk, finance, and compliance functions.
These enhancements supported Marex’s controlled growth and transition as a public company. Reported Profit Before Tax jumped 66% to $98.0 million, while Adjusted Profit Before Tax rose 42% to $96.3 million. The company also improved its margins, with Adjusted Profit Before Tax Margin reaching 21% and Profit After Tax Margin climbing to 16%. As Marex CEO remarked, “Our diversified platform continues to deliver resilient earnings.” Reflecting this strong performance, the Board declared a $0.15 interim dividend per share, payable on 10 June 2025.
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