Alpha Capital Markets also known as ACM Group is continuing to grow briskly this year. Finance Magnates obtained a copy of the company’s regular quarterly report showing that the firm marked another increase in revenues, hitting £21.9 million for the nine months ending June 30th 2017.
The number is higher by 266 percent when compared to a year ago. In its report, the company’s management outlines that growth has been driven by newly acquired institutional clients. The company is continuing to grow strongly via a diverse mix of market making and fee-based income.
Alpha’s ‘Cost of Sales’ increased by 134 percent and remains way below the revenue growth percentage of the company. Administrative costs also increased by 10 percent after the firm moved its London office into the heart of the city and added new staff.
ADALend: New Wave of DeFi Loans on CardanoGo to article >>
Elaborating on the matter, the CEO of Alpha, Muhammad Rasoul, commented to Finance Magnates: “We spent some funds last quarter on additional IT staff. A lot of our operation is heavily concentrated on API business and we felt we need to commit additional resources to ensure better quality of the service. Strategic hires in IT were also complimented with three new hires on the Business Development side.”
Client funds continued growing in the third quarter of the year, totaling £80.4 million. The figure is four times higher than a year ago.
Net profits of Alpha total just above £3 million, a number which contrasts to a loss of £0.9 million for the same period in 2016.
Alpha has seen an atypical summer so far. Commenting on current market conditions, Mr Rasoul elaborated: “This summer has been surprisingly active, we’re hoping that trading picks up further in August and beyond.”