Equiti Capital UK Limited has published its financial results for the year ended on 31st December 2019, with the trading provider achieving a profit for the year, following a loss in the previous year.
According to a document filed through UK’s Companies House, Equiti Capital UK recorded $24.64 million in revenue for the year ended on 31st December 2019. This represents an uptick of 59.4 per cent against the previous period.
However, it is worth highlighting that the prior financial period was only a nine-month period, ended on 31st December 2018, and not a full 12-month period.
Equiti Capital UK Limited is regulated by the Financial Conduct Authority (FCA) and operates via the trading names Equiti UK and Equiti Capital. The company represents the United Kingdom business of Equiti Group Ltd.
The company’s principal activity is providing execution-only brokerage services for professional and institutional clients to trade contracts for differences (CFDs) in spot foreign exchange (forex), metals, indices and commodities.
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Equiti Capital UK Reports a Profit of $569K
Profit from operations for the year came in at $591,956, which is a marked improvement on the $3.73 million loss the trading provider recorded for the prior nine month period. Profit for the whole year was $569,454. Again this is much better than the $3.68 million loss recorded for the prior period.
For the full year ended in December 2019, the CFD trading provider made a total comprehensive profit of $569,454, against a loss of around $4.63 million in the 2018 period.
During 2019, Equiti Capital UK saw solid fill ratios, execution times and price discovery for market orders, the company said in its report. On top of this, the firm’s key growth plans successfully materialised during the year, including the launch of new retail brands across the group.
Speaking to Finance Magnates on the results, Brian Myers, CEO of Equiti Capital said: “Our 2019 financial results were built on top of substantial investment into key staff and best-in-class technology. These foundations have contributed heavily to the performance we continue to see through 2020.
“We have continued to invest in growing the business by adding a wide range of new financial instruments, integrating new technology partnerships, including FXCubic, Gold-I, Your Bourse, revamping and investing in our FX Agency Desk with new technology and growing the team as well as adding new offerings.
“We still have many new initiatives to launch by year-end 2020, and anticipate another hugely successful year. We are so proud of our team and what we are achieving together.”