Admiral Markets AS, a multi-regulated FX and CFDs brokerage firm, has reported its interim financial results for the year ending December 2018, displaying strong numbers across key components of its business on a year-over-year basis, per a corporate financial disclosure.
Compared to a period of flat growth in the in 2017, Admiral Markets has seen noticeable gains in its financial figures over the last year. More specifically, during 2018 Admiral Markets disclosed a net operating revenue of $27.5 million (€24.2 million), which was up 25 percent year-over-year from $21.9 million (€19.3 million) in 2017.
Admiral Markets AS had earlier three active branches in Romania, Poland, and the Czech Republic, and a representative office in Russia. The branches in Romania and the Czech Republic were closed in May as service in these countries are now provided on a cross-border basis.
Also, Admiral Markets saw its operating expenses ticking up in 2018, after seeing a figure of $17.2 million (€15.2 million) – this was up 20 percent year-over-year from $14.4 million (€12.7 million) in 2017.
Why Ethereum Needs Layer 2 Solutions More Than EverGo to article >>
Admiral Markets expands products lineup
Meanwhile, the company’s net profit was reported at $10.8 million (€9.5 million) in 2018, which reflects a 58 advance when compared with $6.8 million (€6.0 million) it earned in the year prior.
The company attributed its solid revenues to higher trading volumes, the introduction of new products, and improved marketing efforts.
Admiral Markets’ offering has seen dramatic additions in the past few months. The Estonian-based firm has recently increased its lineup of exchange-traded fund (ETF) derivatives for its Admiral.Invest account type, with the addition of 177 new CFDs.
Admiral Markets has been a pioneer in incorporating MetaTrader 5 (MT5) into its trading infrastructure, becoming one of the earliest venues to launch the platform for its clients. The inclusion of MT5 has seen the expansion of the range of assets offered on the company’s platform.