Aetos Capital Group (UK) Limited, FCA-regulated arm of Sydney-based provider of FX and CFDs AETOS Capital Group, today unveiled its financial results for the fiscal year ending March 31, 2017, which were characterised by lagging metrics in areas ranging from operating income to revenues, according to its latest filing with the UK’s Companies House.
Aetos Capital Group UK Limited is part of AETOS Group, which has a major presence in the Asia Pacific and a growing global presence, with offices around the world including in London and Shanghai. The company’s immediate parent undertaking is Aetos (Europe) Holdings Ltd, a company incorporated in the British Virgin Islands. The ultimate controlling party is Mr. Y. Q. Lu by virtue of his shareholdings in the group.
In terms of the aggregated financial results, by the end of March 2017 Aetos UK put together a weak YoY performance relative to 2016 figures.
Specifically, Aetos UK witnessed a deterioration in its operating revenues, which came in at only $39,000 (£30,268) – this figure shows a steep decline from the $520,000 (£403,918) reported back in the same period a year ago.
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In terms of its operating income, the figure was even weaker, having yielded a loss of $1.505 million (£1,168,549) compared to an operational loss of $377,800 (£293,171) for the fiscal year ending March 31, 2016.
Meanwhile, administrative expenses increased notably year-on-year, despite the weak revenues, coming in at $1.525 million (£1,183,603) relative to $885,000 (£686,830) the year prior.
Commenting on these results, a spokesman of AETOS UK told Finance Magnates that “It is understandable to have capital injection from the group on the first year of the business, to build on infrastructure: new office, equipment and staff. As such, a focus on the first year’s financial loss only instead of the overall picture of the group business may not reflect the real situation.”
Finally, Aetos UK has revealed that its CFDs business is brokered with Aetos Capital Group Holdings Ltd, a fellow group undertaking, but confirmed that the trades are being handled accordance with FCA best execution requirements.
During the year, the company received fees amounting to £398,234 from entities connected to the ultimate controller, negotiated on normal commercial terms. As of year end, Aetos UK owed connected entities worth £174,037 (2016 £222,147), which are interest free and unsecured.