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Marex Group plc reported strong financial results for 2023, marking a transformational year with significant organic growth and successful acquisitions. Reported revenue surged 75% to $1.245 billion, while profit before tax soared 62% to $197 million. Adjusted operating profit rose 89% to $230 million. Marex’s first quarter of 2024 also showed robust performance, with revenue increasing 12% to $365.8 million and profit before tax rising 104% to $58.9 million. The Group’s strategic expansion, both organically and through acquisitions, bolstered client activity and geographic reach, leading to increased trades and higher average client balances.
Key segments like Clearing, Agency and Execution, and Hedging and Investment Solutions saw notable revenue gains. The Group's environmental business posted a revenue growth of 74% to $47 million. The company also successfully launched its IPO in April 2024, further strengthening its financial position with the issuance of €300 million in unsecured 5-year senior notes and retaining investment-grade ratings from S&P Global and Fitch.
Marex Group, a global financial services platform, will release its full year 2023 results and Q1 2024 update on May 16, 2024, before market open. The earnings report and additional materials will be available on the Marex website. A conference call discussing the results is scheduled for 9 am ET on the same day, where analysts and investors can participate via a provided registration link.
