A filing with the UK Companies House shows that the UK subsidiary of Ayondo, Ayondo Markets Limited, has reached profitability in the second half of 2015. The company’s report outlines that the brokerage recorded a substantial increase in revenues last year, netting a total of $10.6 million (£7.3 million), an increase of 115 per cent.
Focusing on the bottom line for the full year, the FCA regulated subsidiary of Ayondo recorded a loss of $1.31 million (£0.91 million), which is a less notable improvement when compared to 2014, when the firm reported a loss of £1.03 million.
Throughout 2015, Ayondo Markets has engaged in a number of efforts to boost the company’s offering and has committed a substantial amount of funds to marketing. The brokerage announced a sponsorship deal with FSV Frankfurt and deposit insurance protection for its clients for up to £500,000.
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The company’s net assets have increased throughout the year to a total of £2.46 million ($3.55 million), while the firm’s cash and cash assets totaled over £15 million pounds. According to the outlook by the broker’s management team, Ayondo Markets Limited is expected to turn to profitability in 2016.
Ayondo Markets Limited has also outlined in the company’s annual report that the firm is looking for both organic ways to boost its customer base as well as acquisitions. According to the firm’s management the firm has laid the foundations for future growth after accumulating clients, talent and delivering an innovative offering to the social trading market.
Ayondo Markets is the UK FCA (Financial Conduct Authority) regulated subsidiary of Ayondo. The latter last month announced its intentions to go public via a reverse takeover at a valuation of about $155 million.