The Singapore-based global financial company under the name Phillip Brokerage Pte Ltd, has today seen one of its UK subsidiary groups report 2015 totals for their UK entities including King & Shaxson Capital Ltd and its Phillip Securities Nominees UK entity, where the subsidiary group recorded a profit before tax of £2,464,004 for its year ending June 30th, 2015.
The UK group includes PhillipCapital UK, the brand name that mirrors the company’s parent group name in Singapore. That parent company has a 100% interest in the UK group since 2002 and which includes King & Shaxson Capital Ltd and King & Shaxson Ltd, as well as the still-dormant King & Shaxson Asset Management Limited.
The above-mentioned result included the combined earnings from the entities, and reflect an increase of £315,396 or up 14.6% from £2,148,608 reported for 2014. From those totals, the amount of retained profit amounted to £1,873,386 and is higher from £1,586,928 year-over-year, and up 18% during that period.
New CFDs Now Available for SuperForex ClientsGo to article >>
Overall, the 2015 results were driven by gross profits of £18,244,629 which were higher by 10.2% from £16,553,050 reported for 2014, while increases in administration costs during the same period rose by 9.3% from £14,462,780 in 2014 to £15,808,716 during 2015.
That rise in costs largely offset 80% of profits, and closely reflected the prior year’s cost-of-income ratio yet nonetheless helped the 18% retained profit year-over-year and drive increases in key performance areas.
An excerpt from the company house filings can be seen below, and depicts the year-over-year improvements across key metrics.
A portion of the startup expenses that comprised the group’s total administration costs rose to £730,000 in connection with the launch of the company’s PhillipCapital UK offering for FX and CFD margin trading business. The news follows after Phillip Capital UK partnered with OneZero earlier this year for its MT4 offering, as reported by Finance Magnates.