Equiti Capital UK Announces 30% Income Decline Despite Revenue Growth
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Equiti Capital UK Limited, a part of Equiti Group regulated by the Financial Conduct Authority (FCA), said its total income was slashed by 30% compared to a year ago. However, the company saw significant profits and trading revenue last year.
The company reported that its operating revenue grew past $31 million last year. This shows an increase of $500,000 from the reported amount a year before. Equiti Capital received $1.9 million in operating profits at the time.
Equiti Group Reveals Major Reason For Recent Growth In Its Network
After investing in a Digital Marketing team, Equiti Group said it saw significant growth and development. The funding helped the group to get more customers and saw increased transactions during the year. Due to this, its commission income rose 34%.
Equiti Capital revealed its total trading revenue reached $31 million, showcasing a 2% rise year-over-year. This success came because the company’s clients performed more transactions within Equiti Group overall.
According to the report, Equiti Capital UK announced that the high cost of operating in its network caused its pre-tax profit to reduce. The company previously received $1.8 million in pre-tax profits but recently $1.5 million.
The brokerage firm announced that its overall gain ($1.1 million) was lesser than the amount received before ($1.6 million), signifying a 30% difference. Equiti Capital’s total assets decreased from $203.5 million throughout the year to about $161.4 million.
The company noted that it included 1,500 new stock and ETF contracts for differences to its portfolio last year. It also created a business platform to give investors access to popular sectors like robotics, artificial intelligence, and renewable energy stocks.
Equiti Capital Made Changes To Its Team Last Year To Enhance Productivity
Equiti Capital made several significant changes to its leadership team last year. In May, the company announced Steve Reeves as the new UK chairman after he had joined as a non-executive director the year before.
Liam Conway was named the new chief executive in April, a position he had temporarily held since mid-2021. Before this, Conway was the group’s deputy chief financial officer.
Equiti Capital keeps offering custom liquidity solutions to professional and ECP clients. It provides direct pricing and low margins on deep liquidity with stable spreads.
The firm is entirely owned by Equiti Group Limited. Much of the risk management system also wholly applies to Equiti Group. According to the Financial Conduct Authority regulations, the company’s products are only for Professional and Eligible Counterparty customers.
