Tickmill Posts Record Volumes and Earnings, Upgrades 2019 Outlook

Tickmill UK Ltd’s share capital was increased to $8.33 million by injecting an additional $4.32 million by the parent group.

London-based retail brokerage Tickmill has reported strong financial results for the first nine months of 2019, having bested its equivalents from the year before.

The multi-regulated broker said its profit rose nearly 50 percent to $29.46 million in the three quarters that ended September 30, beating its 2018’s bottom-line figures for the same period, which was reported at $19.67 million.

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On the trading volumes front, Tickmill disclosed that record-high volumes were reached in the nine months through September, buoyed by strengthening its presence in key global markets, as per the company statement.

Looking at the specifics, Tickmill reported $1.09 trillion in aggregate volumes, the highest and most impressive figure in the company’s history. This figure is also higher by 13.1 percent when compared with previous records of $967 billion reported in the first nine months of 2018.

In terms of its monthly averages, Tickmill Group executed 6.74 million trades on a monthly basis, up nearly 10 percent relative to an average of 6.13 million in the Jan-Sep period of 2018.

Despite the FX markets experiencing low volatility throughout 2019, Tickmill nudged its full-year target higher for both revenues and trading turnover. The group said full-year 2019 volume was expected to be around the top end of the previously stated $1.45 to $1.50 trillion range, while its net profit guidance was upgraded at around $35 million for the calendar year.

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More recent developments have propelled Tickmill’s performance to record highs, including organic growth in key markets, cost optimization, and investment into new technology, achieving increased efficiency through automation.

Tickmill boosts UK arm capital

Elsewhere, Tickmill is at the tail end of its program to support the UK arm, having increased Tickmill UK Ltd’s share capital to $8.33 million by injecting an additional $4.32 million. The group has also raised the total net capital base to $15.90 million as of September 30, 2019, to weather any possible risks in a British market stymied by Brexit.

“Although the Company estimates that there will be no material effects from Brexit, this capital injection serves to provide Tickmill UK Ltd with additional protection from any Brexit-related adverse effects,” it said.

The company added that while the pipeline for international work remained strong, it has also increased the group’s net capital base to $66.43 million as of September 30, 2019, compared to $40.71 million at the end of 2018.

Commenting on the results, Duncan Anderson, CEO of Tickmill UK Ltd, said: “We are pleased to see our group continuing on strong growth trajectory and delivering record results across the board. As a group, we’ve been looking at various acquisition opportunities in the technology front throughout 2019, so that we could partially deploy Tickmill’s extensive capital base and increase our shareholder value.”

He added: “Our strong capital base gives Tickmill also some great opportunities to diversify our offering by introducing new products and platforms over the coming months and thereby diversifying our revenue streams.”

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