ThinkMarkets UK Sees 2021 Profit Jump despite 38% Revenue Dip

The UK business of Melbourne-based broker, ThinkMarkets, published its financials for the year 2021, reporting a 38% decline in turnover. The figure came to more than £2.73 million, compared to £4.38 million last year.

Yet, its executive expense went down sharply, and with that, the operating profit of 2021 came in at £250,112, higher than the previous year's £206,556. Considering interests and other income, which came in the same as in the last two years at £68,000, the broker ended the year with £318,112 pre-tax profits, which was 16 percent higher year-over-year.

The net profit for the financial year, which ended on 31 December 2021, came in at £304,988. It was more than 9.3% higher than the £278,925 produced in the previous year.

The reported numbers were only for ThinkMarkets’ UK operations, not its vaster global businesses.

“The company's business developed in line with the board's expectations and the results for the year and the financial position at the year-end were considered satisfactory given industry conditions and general economic uncertainties,” the Companies House filing of TF Global Markets (UK) Limited stated.

“The company continues to look for opportunities both in the UK and overseas.”

A Growing Broker

It is now expecting growth in business in both core and new markets that might lead to a significant improvement in financial results and “significant growth in client numbers, client deposits and trade volumes.”

Earlier this year, ThinkMarkets launched forex trading Forex Trading Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Read this Term services in Japan after earning a JFSA license with the acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term of a local forex broker. It even received $30 million in funding for expanding the company’s business across multiple verticals in several jurisdictions globally.