More job cuts since June as the company is looking to optimize its financials division cost base.
Playtech has just announced its results for the first half of 2016 with the total revenues of the firm rising by 18 per cent year-on-year. The company has also detailed the numbers of its financials division which has undergone a major restructuring in recent months in order to shift the company’s business model from salesperson based approach to automated funnels.
The changes have been made in response to the tightening of the regulatory framework by the Cyprus Securities and Exchange Commission (CySEC).
The financials division of Playtech has reported revenues totaling €31.3 million, which compares to €60 million for the full year in 2015. However the full number for the year including data before the acquisition of TradeFX and Markets.com which was completed in May 2015 was $100 million. That said, last year Playtech announced that overall, revenues at Markets Limited were $48.2 million during H1 2015, which was an increase of 60% compared to the same period in 2014.
If we take these figures into account, the revenues of the financials division of Playtech have dropped substantially due to the restructuring. The bottom line for the financials division overall is in line with the company’s statement highlighting solid performance and growth potential in the B2B area.
The financial division’s Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) have amounted to €5.9 million in the first half of 2016. The company has stated that further to the cuts it made in the first half of 2016, which were related to the restructuring of the company’s sales model to automation, it has made further cost base reductions since June.
IB Business Shift
During the first half of 2016, due the the transition of the financial business which has been prompted by regulatory changes, Playtech has ceased its relationships with Introducing Brokers. The company also moved away from binary options and introduced fundamental changes to its onboarding procedures.
The number of active customers trading on the core markets.com site was lower by 11 per cent when compared to the first half of 2015, and first time depositors (FTDs) were lower by 45 per cent. The number of FTDs from the mobile app of Markets.com's 42 per cent of the total. The proportion is higher by 19 points from the first half of 2015, which reflects the successful move towards an automated sales funnel.
Revenues from the B2C business were lower due to the business improvements, while the B2B business spiked higher with active customers becoming 13.0k, which is more than double when compared to the first half of 2015. FTDs totaled 7.7k, which is a 60 per cent increase from the first half of 2015.
"We are now confident that Markets has the right platform for sustainable growth, which is beginning to show positive signs, as evidenced by an improved performance in July and August to date. The second half of the year will also benefit from further reductions in the cost base made in June with headcount now reduced by a third since the acquisition in April 2015. Finally, Markets gained traction as a B2B provider given its unique technology and offering, and has a good pipeline of B2B business which will augment B2C growth over time," the company elaborated in an official statement.
Playtech has just announced its results for the first half of 2016 with the total revenues of the firm rising by 18 per cent year-on-year. The company has also detailed the numbers of its financials division which has undergone a major restructuring in recent months in order to shift the company’s business model from salesperson based approach to automated funnels.
The changes have been made in response to the tightening of the regulatory framework by the Cyprus Securities and Exchange Commission (CySEC).
The financials division of Playtech has reported revenues totaling €31.3 million, which compares to €60 million for the full year in 2015. However the full number for the year including data before the acquisition of TradeFX and Markets.com which was completed in May 2015 was $100 million. That said, last year Playtech announced that overall, revenues at Markets Limited were $48.2 million during H1 2015, which was an increase of 60% compared to the same period in 2014.
If we take these figures into account, the revenues of the financials division of Playtech have dropped substantially due to the restructuring. The bottom line for the financials division overall is in line with the company’s statement highlighting solid performance and growth potential in the B2B area.
The financial division’s Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) have amounted to €5.9 million in the first half of 2016. The company has stated that further to the cuts it made in the first half of 2016, which were related to the restructuring of the company’s sales model to automation, it has made further cost base reductions since June.
IB Business Shift
During the first half of 2016, due the the transition of the financial business which has been prompted by regulatory changes, Playtech has ceased its relationships with Introducing Brokers. The company also moved away from binary options and introduced fundamental changes to its onboarding procedures.
The number of active customers trading on the core markets.com site was lower by 11 per cent when compared to the first half of 2015, and first time depositors (FTDs) were lower by 45 per cent. The number of FTDs from the mobile app of Markets.com's 42 per cent of the total. The proportion is higher by 19 points from the first half of 2015, which reflects the successful move towards an automated sales funnel.
Revenues from the B2C business were lower due to the business improvements, while the B2B business spiked higher with active customers becoming 13.0k, which is more than double when compared to the first half of 2015. FTDs totaled 7.7k, which is a 60 per cent increase from the first half of 2015.
"We are now confident that Markets has the right platform for sustainable growth, which is beginning to show positive signs, as evidenced by an improved performance in July and August to date. The second half of the year will also benefit from further reductions in the cost base made in June with headcount now reduced by a third since the acquisition in April 2015. Finally, Markets gained traction as a B2B provider given its unique technology and offering, and has a good pipeline of B2B business which will augment B2C growth over time," the company elaborated in an official statement.
Cheetah Fund Investors Lose $9 Million in Alleged Fraudulent Scheme
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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