Blackwell Global Investments (UK) Limited, an online trading provider, has published its financial results for the year ended on 31st March 2020, in which the company revealed that it managed to close the period at a profit.
In particular, profit for the financial year was £848,672, a document filed through the UK’s Companies House showed. This is much stronger than the previous year, as Blackwell Global Investments (UK) Limited reported a loss of around £1.01 million.
However, it is worth pointing out that the previous year, ended on 31st March 2019, was not a full year for the London-headquartered company, and its previous financial period spanned for nine months from 1st July 2018 until 31st March 2019. This must be taken into consideration when comparing the company’s results.
Turnover for Blackwell Global More Than Doubles
Turnover for the trading provider also increased substantially, rising from £1.77 million for the period ended on 31st March 2019, by 198.7 per cent to reach £5.28 million for the 12 month period.
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Gross profit for the UK based company was £2.65 million. This represents an uptick of 232.5 per cent year on year, as the previous financial period recorded a gross profit of £796,556.
Administrative expenses were slightly higher on a yearly comparison for Blackwell Global. Specifically, expenses grew by 0.7 per cent, inching slightly higher from 2019’s figure of £1.81 million to £1.82 million. This is good when considering that 2020’s figure is based on expenses from three additional months.
Operating profit for the year ended in March 2020 came in at £828,038. This is stronger than the operating loss the online trading provider posted in the previous period, which was £1.01 million.
As Finance Magnates reported, in August 2018, Blackwell Global upgraded its license with the UK regulator, the Financial Conduct Authority (FCA). According to the broker’s statement at the time, the firm became a Full-Scope IFPRU €730k firm.
Finance Magnates has reached out for comment on its full-year results. As of the time of publishing, we have not yet received a response.