Tickmill Group is posting a record year in 2017 as the company’s revenues and net profits increased materially. The company shared with Finance Magnates that its continued expansion across the globe led to solid business growth as the KPIs for last year rocketed higher.
The consolidated net profit for the year amounted to $14.8 million, up from $7.3 million in 2016. The change nets an increase of 103 percent year-on-year. Tickmill’s net trading revenue for the year amounted to just shy of $39 million, marking an increase of 82 percent when compared to 2016.
Total trading volumes came in at $745 billion, which was way above the company’s projections in the $600 to $650 billion range. In November 2017, Tickmill Group recorded its highest monthly trading volume of $79 billion when its clients placed a record 4.25 million trades. During last year, traders of Tickmill posted 42.58 million trades in total, which is another record for the brokerage.
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Illimar Mattus, CFO of Tickmill Ltd, elaborated on the results: “Despite markets experiencing extended periods of low volatility in 2017, Tickmill Group was able to deliver strong financial results for the year.”
“Having successfully completed the acquisition of Vipro Markets Ltd in 2017, we will continue looking for meaningful acquisition opportunities in 2018 to increase our market share and improve our overall efficiency,” he told Finance Magnates.
A Strong Start to 2018
During the first months of the year, Tickmill posted a record monthly trading volume of $110.6 billion in January followed by triple-digit figures in February and March. The brokerage expects to reach between $1.2 and 1.3 trillion full-year trading volumes for the year on the basis of organic growth in its key markets in Southeast Asia, South America, the MENA region and Europe.
Commenting on the company’s results, the CEO of Tickmill UK Ltd, Duncan Anderson, said: “Tickmill was nimble enough to deliver record revenues and profits in the past year, despite the many regulatory changes and increased competition in the financial landscape. Our global presence, excellent trading conditions and robust trading technology has made Tickmill a strong brand and a go-to-broker among some of the most sophisticated retail and professional traders.”