Trade.com’s UK Operator Becomes Profitable with 216% Revenue Jump

Trade.com’s UK Operator Becomes Profitable with 216% Revenue Jump

Time Stamp: May 17, 2023 4:56 AM
Source Node: 2657348

Trade Capital UK (TCUK) Ltd, which operates the Trade.com brand in the United Kingdom, closed 2022 with an annual revenue of £759,240, which is a yearly increase above 216 percent. The company generated £240,009 in 2021, more than double the previous year, and with the latest figure, it continues that growth trend.

The forex and contracts for differences (CFDs) operator also became profitable last year, netting £140,694 compared to a loss of £71,861 in the previous year. The pre-tax profits of the company came in at £186,951, recovering from £99,868 in losses.

“In 2020/21, the company’s operations were at the initial stages following the authorization granted by FCA… while the 2022 revenues recorded a 216% increase and the net profit was increased by 295% compared to the net loss of 2021, more accurately comparative figure and performance figures will become available in subsequent years,” the Companies House filing of the firm stated.

The UK company was incorporated in 2017 and received the FCA’s approval in September 2019. It launched its operations in mid-October 2019.

Improved Operations

It generated a gross profit of £508,806 after considering a direct expense of £250,434 on the total revenue. However, it did not generate any income from other streams last year, while it brought in £60,812 as ‘other operating income’ in 2021. Despite the revenue rise, the UK company managed to decrease its administrative costs to £354,237 from £408,100.

TCUK’s operating profit for 2022 came in at £154,569, compared to a loss of £127,529 in the previous year. Its net finance income also jumped to £32,382 from £27,661.

Trade.com is a global brand with significant operations outside the United Kingdom. It also holds a Cypriot license and operates in Europe from multiple offices. The group also holds regulatory licenses in Dubai, South Africa, and Mauritius for its global operations. The brand also expanded into the US by obtaining a FINRA license.

Trade Capital UK (TCUK) Ltd, which operates the Trade.com brand in the United Kingdom, closed 2022 with an annual revenue of £759,240, which is a yearly increase above 216 percent. The company generated £240,009 in 2021, more than double the previous year, and with the latest figure, it continues that growth trend.

The forex and contracts for differences (CFDs) operator also became profitable last year, netting £140,694 compared to a loss of £71,861 in the previous year. The pre-tax profits of the company came in at £186,951, recovering from £99,868 in losses.

“In 2020/21, the company’s operations were at the initial stages following the authorization granted by FCA… while the 2022 revenues recorded a 216% increase and the net profit was increased by 295% compared to the net loss of 2021, more accurately comparative figure and performance figures will become available in subsequent years,” the Companies House filing of the firm stated.

The UK company was incorporated in 2017 and received the FCA’s approval in September 2019. It launched its operations in mid-October 2019.

Improved Operations

It generated a gross profit of £508,806 after considering a direct expense of £250,434 on the total revenue. However, it did not generate any income from other streams last year, while it brought in £60,812 as ‘other operating income’ in 2021. Despite the revenue rise, the UK company managed to decrease its administrative costs to £354,237 from £408,100.

TCUK’s operating profit for 2022 came in at £154,569, compared to a loss of £127,529 in the previous year. Its net finance income also jumped to £32,382 from £27,661.

Trade.com is a global brand with significant operations outside the United Kingdom. It also holds a Cypriot license and operates in Europe from multiple offices. The group also holds regulatory licenses in Dubai, South Africa, and Mauritius for its global operations. The brand also expanded into the US by obtaining a FINRA license.

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