Advanced Markets (UK) Limited, the FCA-regulated subsidiary of the wider Advanced Markets Group, turned a profit in 2021 fiscal with a healthy jump in revenue as well.
The published numbers only show the performance of the UK unit and not the group or any other subsidiaries.
According to the latest Companies House filing of the company, it ended the financial year, ended on 31 December 2021, generating a revenue of $1.29 million. The figure was more than 13 percent higher than the one reported in the previous year.
Though the administrative costs to the company jumped to $1.31 million from $1.28 million, the company gained $49,850 from other operating income sources. It ended the year with an operating profit of $29,900, compared to an operating loss of $136,487 in the previous year.
A Profitable Company
After considering payable and receivable interest, the UK arm of the group reported a profit of $10,330, recovering from a loss of $111,367 in the last year. It was the first time the FCA-regulated arm of Advanced Markets has turned a profit since its establishment in 2018.
“The results for the period were in line with the expectations of the directors,” the Companies House filing stated. “ The combination of the changes in regulation and historical lows in the volatility of the markets slowed the initial growth pattern that they were expecting. However, their long-term commitment remains.”
“[The] fiscal year 2022 has started well, and the directors continue to expect positive returns moving forward.”
Advanced Markets provides institutional foreign exchange Liquidity and prime-of-prime services to the Forex and CFDs trading industry. The Group is headquartered in the United States and operates globally with a presence in several jurisdictions.
Earlier this month, Advanced Markets Group strengthened its compliance team by onboarding Evangeline Mauthe as a Compliance and Anti-Money Laundering Officer.
