UK-based spread betting and CFD trading operator, FINSA Europe Ltd, has reported a solid 155 percent increase in its revenue for the financial year 2020, ending on November 30. In absolute terms, the operating revenue of the company came in at £17.4 million compared to the prior year’s £6.8 million.
Other key performance metrics jumped even higher. The operating profit of the broker has increased by 675 percent over a year to £7.86 million, which excludes a small income from its interests. The latest operating margin of the company climbed to 45 percent from merely 15 percent in 2019.
The profit after taxation came in at £6.22 million. This figure is 395 percent higher than the previous fiscal year’s £1.25 million. Additionally, shareholders’ funds at the broker increased by 115 percent, from £5.39 million in FY19 to £11.62 million in FY20.
Moreover, the broker highlighted that the levels of new client Acquisition beat forecasts in the last fiscal and the associated costs remained on the lower side of the industry average. “The growth in new client numbers and revenue last year was enhanced by increased market volatility,” FINVISA explained.
Rebranding Efforts
The impressive jump in the business happened when the company was in the process of migrating its brand from Core Spreads to Trade Nation.
“The company has decided to rebrand to Trade Nation and will, over the course of the next year, seamlessly move existing Core Spreads clients across to the new brand,” FINSA stated in the Companies House filing.
“The company has invested heavily in the Trade Nation client experience and will deliver bespoke content and high levels of service underpinned by transparent and fair client charges that offer traders some of the best value to be found in the marketplace.”
