Smart Trade Technologies Operating Profit Increases By 100% In Fy24

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Smart Trade Technologies has shared its financial performance for the last fiscal year. The company said sales, profits, and revenue increased during the period. It also reported a huge £2.2 million in operating profits. This amount is two times more than what the firm recorded last year.

According to the report, Smart Trade Technologies gave reasons why it performed excellently in the fiscal period that concluded on March 31 this year. The company said more businesses were established in the United Kingdom and Europe. Furthermore, there were more sales recorded within the region, leading to strong financial results in the fiscal year.

Smart Trade Technologies Revenue Grew 16% To Nearly £18 Million

The report shows the company’s revenue reached almost £18 million, a 16% growth from £15.5 million. As sales costs remained under £14 million, this caused a rise in operating and gross profits, as revealed earlier.

The firm saw £2.2 million in final net profit, a 69% increase from £1.3 million in last year’s fiscal period. This means the company earned more profit this year than last year and saw a huge 1000% rise from a couple of years back when the profit was only £200,000. Smart Trade Technologies’ total assets increased to £2.9 million from £1.9 million.

Recently, Smart Trade Technologies added its Private Cloud service in Zürich, Switzerland. The company took this initiative as customers continuously demand better hosting and disaster recovery services in Europe.

Smart Trade Extends Its Private Cloud Service In Zürich With Help From Equinix

Smart Trade worked with Equinix to achieve the Zürich expansion. The company said the expansion will improve its worldwide setup. It adds to the firm’s current locations in New York, London, and Tokyo. It also shows the company’s dedication to offering strong and varied solutions for important trading and payment systems.

Many other companies have recently shared their financial reports for this year. One of these companies is Beeks Financial Cloud Group plc, listed on the AIM under the symbol BKS. It released early financial results for the fiscal period ending June 30 this year. The group said its revenue grew, and it is receiving more regular income.

The provider of connectivity and cloud computing services for financial markets said it expects its fiscal year 2024 revenue to be roughly 27% more than the previous year. Its Annualized Committed Monthly Recurring Revenue grew to £28.0 million. This was 18% more than the amount recorded at the end of the previous financial year, £23.8 million.

At the same time, Japan’s Monex Group grew its net profit by almost 850% to 31.5 billion JPY in its fiscal year 2024 compared to the year before. Its operating revenue rose by 20% to 66.8 billion JPY.

About Ali Raza PRO INVESTOR

Ali is a professional journalist with experience in Web3 journalism and marketing. Ali holds a Master's degree in Finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of leading cryptocurrency publications including Capital.com, CryptoSlate, Securities.io, Invezz.com, Business2Community, BeinCrypto, and more.