Multi-asset Execution , clearing and Liquidity provider, Sucden Financial, has today announced its latest financial results. The audited accounts for the year ending 31 December 2019, show continued strong revenues and profits, together with a strengthened balance sheet.
Despite revenue being down 6.8% from 2018 to 2019, net profit declined by only 1.83%. Total net assets jumped 8.65% from £125.6 million in 2019, against £115.6 million in 2018.
Key highlights:
- Total net assets of £125.6 million, against £115.6 million in 2018
- Net revenues of £59 million, against £63.3 million in 2018
- Net profit of £16.1 million, against £16.4 million in 2018
Dealing with Covid-19 impact
“Our 2019 financial results show the strength and success of our diversified business. This year we have been adapting our processes to deal with the effects of the Covid-19 virus on our working environment and its impacts for our clients and markets. Our dedicated workforce and resilient infrastructure have allowed us to not only maintain but continue enhancing our multi-asset services,” Marc Bailey, CEO at Sucden Financial, says.
Bailey took on his new role in January 1st 2020, replacing Michael Overlander, who left his position to become non-executive Chairman of the company.
Overlander has worked for the Sucden Group since 1973 and was appointed to the board of Sucden Financial in 1984.
Serving customers worldwide , Sucden Financial offers brokerage services for exchange, options, equities, foreign exchange, base metals, precious metals, iron one, energy, softs and agriculture, and bullion markets.
