FCA-regulated FX and CFDs broker Fortrade Ltd today has unveiled its annual report and year-end financial statements for the period ending December 31, 2016, which showed a notable progress across its key metrics, per its recent filing with the UK Companies House.
In terms of the aggregated financial results by the end of FY 2016, Fortrade Trade put together a stronger performance relative to 2015 figures.
More specifically, Fortrade reported its operating revenues at £15.85 million ($20.6 million) for the 12-month period through December 2016, higher by more than 190 percent year-over-year from the £5.4 million ($7 million) reported back in 2015.
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Over this same period, Fortrade operating income yielded an annual profit of £953,972 ($1,237,685) in 2016, compared to the loss of £212,787 ($276,070) that the UK-based company incurred in the year prior.
Meanwhile, the company attributed the sharp increase into its operating revenues to several measures taken to ensure that sufficient resources were in place to support its services offering in the last year.
Fortrade provided an upbeat outlook for 2017, citing a significant increase in both client base and trading volumes since the major change in marketing strategy of late 2015, as well as its current efforts to expand activity to a much broader area.