Equiti Capital UK Limited, the FCA-regulated arm of Equiti Group, increased its trading revenue and operating profit in 2023. However, the total comprehensive income turned out to be over 30% lower than the previous year.

Equiti Capital Boosts Revenue, but Net Profit Declines Sharply

According to the latest report from the British branch of Equiti Group, trading revenue in 2023 exceeded $31 million, growing by several percentage points from the $30.5 million reported the previous year. This allowed the company to achieve an operational profit of $1.9 million, which increased marginally compared to the results reported in 2022.

The report indicates that the recent investment in a Digital Marketing Marketing Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Read this Term team has helped drive growth for the wider group. This has led to increased customer numbers and transaction volumes during the year, resulting in a 34% increase in commission revenue.

“The company reported net trading revenue of $31 million, a 2% increase year on year, primarily attributable to increased transaction volumes experienced by the wider Group,” the company commented.

However, analyzing the profit and loss statement, it's evident that higher operating costs translated into a decrease in profit before tax from $1.8 million to $1.5 million. This ultimately reduced the net profit to $1.1 million, down by over 30% from the $1.6 million reported in 2022.

Throughout the year, the total assets held by the firm also shrank, falling from $203.5 million to $161.4 million.

However, the company acknowledges that over the past year, it has added “1500 new stocks and ETF CFDs to its trading platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term” to provide investors with access to trending sectors such as “artificial intelligence, robotics, and renewable energy stocks.”

Last year, Equiti Capital UK made several significant changes to its executive team. In May, the company announced the appointment of Steve Reeves as Chair of the UK Board, after he joined the firm as a non-executive director the previous year. In April, Liam Conway was named the new Chief Executive Officer, a role he had had in an interim capacity since mid-2021. Previously, Conway held the position of Deputy Group CFO.