CLS Group Profits Spike by a Third on 6% Revenue Growth
- The annual figures published by the CLS Group reveal that profitability of the company has increased much faster than revenues
An official account of last year shows that CLS Group has materially improved its annual report for 2014. The financials posted by the company reveal that CLS posted revenues of £183.3 million (or $275.6 million). This marks an increase of 6% when compared to 2013.
The total operating expenses increased by 1.6%, or £2.4 million ($3.6 million) primarily due to an expected increase in amortization of £4.0 million ($6.0 million), after the integration of major components of the technology program of CLS.
On the bottom line, profit after tax figures marked an impressive rise of 36% on an annual basis to £19.8 million, reflecting the modest cost increases when compared to the revenue flows.
Average daily volumes in the core service remained stable year-on-year at 801,000 instructions, while average daily Settlement Settlement Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Read this Term values stood at $5.1 trillion, which was slightly higher from 2013.
The company also marked a record in December, when on the 17th it registered its 2014 peak value day at $10.7 trillion, surpassing the previous record from March 2008.
Commenting in the Annual Report, the company’s Chairman of the Board, Ken Harvey said, “We are entering a new phase in the Group’s growth and capabilities. The coming year will see the introduction of new products, new members and a new currency.”
“In summary, we delivered solid operating results after an effective capital raise. This strong performance came on the back of what was a historic year in the FX market. We witnessed a prolonged period of low Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term and declining volumes that extended well past mid-year. This was followed by extraordinary instability and record volumes precipitated by political and socio-economic events around the world. I am pleased to report that the CLS service operated without issue throughout record volumes and values,” he explained.
An official account of last year shows that CLS Group has materially improved its annual report for 2014. The financials posted by the company reveal that CLS posted revenues of £183.3 million (or $275.6 million). This marks an increase of 6% when compared to 2013.
The total operating expenses increased by 1.6%, or £2.4 million ($3.6 million) primarily due to an expected increase in amortization of £4.0 million ($6.0 million), after the integration of major components of the technology program of CLS.
On the bottom line, profit after tax figures marked an impressive rise of 36% on an annual basis to £19.8 million, reflecting the modest cost increases when compared to the revenue flows.
Average daily volumes in the core service remained stable year-on-year at 801,000 instructions, while average daily Settlement Settlement Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Read this Term values stood at $5.1 trillion, which was slightly higher from 2013.
The company also marked a record in December, when on the 17th it registered its 2014 peak value day at $10.7 trillion, surpassing the previous record from March 2008.
Commenting in the Annual Report, the company’s Chairman of the Board, Ken Harvey said, “We are entering a new phase in the Group’s growth and capabilities. The coming year will see the introduction of new products, new members and a new currency.”
“In summary, we delivered solid operating results after an effective capital raise. This strong performance came on the back of what was a historic year in the FX market. We witnessed a prolonged period of low Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term and declining volumes that extended well past mid-year. This was followed by extraordinary instability and record volumes precipitated by political and socio-economic events around the world. I am pleased to report that the CLS service operated without issue throughout record volumes and values,” he explained.