The trading revenue of the UK-registered subsidiary jumped 30 percent.
The company ended the year with over £10 million in net profit.
The United Kingdom-registered subsidiary of Pepperstone closed the fiscal year ended on 30 June 2023 with a trading revenue of about £13.9 million, an increase of almost 30 percent. The company further earned over £10.5 million from services provided to the other Group entities, resulting in a net profit of more than £10 million.
A Strong Year for Pepperstone UK
Pepperstone Limited operates in the United Kingdom with authorization from the Financial Conduct Authority. It offers leveraged contracts for differences and spread betting products to retail and professional clients.
“The Company’s license does not allow it to take on any market risk, and therefore, all market risk is borne by the Company’s affiliate company PepperStone Group Limited,” the latest Companies House filing stated. “As a part of this process, clients deposit monies directly with the Company’s designated client money bank accounts.”
Non-Trading Activities Soar
According to the latest income statement, the UK-based company registered massive revenue gains from its other income sources, which jumped to over £10.5 million from merely £366,177 a year before.
The gross profit from the trading revenue came in at almost £11.9 million after considering a sales cost of £2.03 million, which increased from £1.5 million in the previous fiscal year. Interestingly, the company’s employee and legal and professional expenses went down. However, its marketing expenses more than tripled to £1.6 million.
The total expense of the UK subsidiary for the fiscal year came in at £9.8 million, an increase from the previous fiscal year’s £4.9 million. Its pre-tax profit for the period stood at £12.6 million, compared to £4.6 million in the previous year.
The filing revealed that client funds held by the company grew to over £30 million during the closed fiscal year, taking the total funds to £25.16 million. However, the total figure was below the previous year’s figures of £28.9 million.
“Whilst future predictions and trends are difficult to make, the Company is fully committed to developing an offering that appeals to professional traders and retail clients who are generally more experienced and better informed about derivatives and financial markets than the average person,” the filing added.
The United Kingdom-registered subsidiary of Pepperstone closed the fiscal year ended on 30 June 2023 with a trading revenue of about £13.9 million, an increase of almost 30 percent. The company further earned over £10.5 million from services provided to the other Group entities, resulting in a net profit of more than £10 million.
A Strong Year for Pepperstone UK
Pepperstone Limited operates in the United Kingdom with authorization from the Financial Conduct Authority. It offers leveraged contracts for differences and spread betting products to retail and professional clients.
“The Company’s license does not allow it to take on any market risk, and therefore, all market risk is borne by the Company’s affiliate company PepperStone Group Limited,” the latest Companies House filing stated. “As a part of this process, clients deposit monies directly with the Company’s designated client money bank accounts.”
Non-Trading Activities Soar
According to the latest income statement, the UK-based company registered massive revenue gains from its other income sources, which jumped to over £10.5 million from merely £366,177 a year before.
The gross profit from the trading revenue came in at almost £11.9 million after considering a sales cost of £2.03 million, which increased from £1.5 million in the previous fiscal year. Interestingly, the company’s employee and legal and professional expenses went down. However, its marketing expenses more than tripled to £1.6 million.
The total expense of the UK subsidiary for the fiscal year came in at £9.8 million, an increase from the previous fiscal year’s £4.9 million. Its pre-tax profit for the period stood at £12.6 million, compared to £4.6 million in the previous year.
The filing revealed that client funds held by the company grew to over £30 million during the closed fiscal year, taking the total funds to £25.16 million. However, the total figure was below the previous year’s figures of £28.9 million.
“Whilst future predictions and trends are difficult to make, the Company is fully committed to developing an offering that appeals to professional traders and retail clients who are generally more experienced and better informed about derivatives and financial markets than the average person,” the filing added.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
FMAS:24 has kicked off and its now bigger and better.
FMAS:24 has kicked off and its now bigger and better.
We've Kicked Off Finance Magnates Africa Summit 2024! 🎉 #FMAS #FMAS24 #FMevents #FinanceMagnates
We've Kicked Off Finance Magnates Africa Summit 2024! 🎉 #FMAS #FMAS24 #FMevents #FinanceMagnates
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
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1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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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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#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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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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