Peter Cruddas is normally a chatty guy. You’re welcome to his opinions and if you feel like offering him some of yours, he doesn’t mind.
Today his CMC Markets business reported that it’s having a tricky time.
Profits tumbled 43% to £52 million. The dividend has been slashed. It’s tough out there.
What did Lord Cruddas have to say about this? Nothing.
The reason he isn’t talking on CMC results day is plainly because he doesn’t want to be asked about Boris Johnson, of whom he remains a big fan. The biggest, perhaps.
But it’s not like he is silent in general. He was in the Telegraph the other day, claiming Boris has been “stitched up like a kipper”. If this stands, no Conservative politician will be safe, he warned.
I don’t think there is anything wrong with Cruddas having strong political affiliations. It’s not like he is hiding them.
And he’s not obliged to speak to me, of course. But it’s hard to see how he can avoid speaking about his company for much longer.
It was his full-year results today, probably CMC’s biggest day of the year.
CMC said Cruddas isn’t talking because we’d all just ask him about Boris, and that would be a terrible distraction.
Sure. But he started it; the distraction wasn’t visited upon him.
Investors might be wondering if his politics are getting in the way of the business. Maybe they aren’t, but we can be forgiven for wondering.
Some might want to see him answer that suggestion as plainly as possible and in public.
It will be interesting to see if Cruddas backs away from Johnson at this point. If he does, he should say why.
