AETOS Capital Group UK Limited (AETOS UK), the wholly owned subsidiary of Australian broker AETOS Capital Group, has published its annual report and financial statements for the year ended March 31, 2018.
Looking at the results, the firm experienced a strong financial year, bouncing back from disappointing financial results experienced in the 2017 fiscal year. According to the report, this was thanks to an increase in its client base numbers following the upgrade of its Financial Conduct Authority (FCA) license.
AETOS UK highlights its key performance areas as turnover and net assets. During the 12 months ended March 31, 2018, the firm had a total turnover of £2.1 million ($2.8 million). When compared to the same period last year, which record a turnover of £30,268, this is an increase of 98 percent.
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Net assets also saw a significant year on year increase. During the firm’s fiscal year ending March 2018, the company’s net assets were £1.3 million. This is up around 40 percent from the same time period last year.
Following along with the theme, gross profit also saw a nice uptick, coming in at £1.5 million at the end of the 2018 fiscal year. During the year ended March 31, 2017, the firm only saw a gross profit of £14,547, representing a sizeable jump of 99 percent.
Operating profit, which is gross profit minus administrative expenses, was £14,740 in the 2018 fiscal year. This is a strong result when taking into account the operating profit for the previous year, which was actually a loss of £1.2 million.
AETOS UK Believes It Will Continue Solid Performance
In the annual report, AETOS UK said that it is confident that it will continue to see improved results in subsequent years. This is despite an uncertain time for brokers in the European Union following a changing regulatory environment. The vote of confidence also follows from a weak 2017 fiscal year.