28 September 2022 – London - Equiti Capital UK Limited reported an increase in profitability of 113% for the financial year ending December 2021, with a net profit of $3.7 million. The increase in profitability was driven by a 5% growth in trading revenues underpinned by a small reduction in costs.
Record volumes were generated by Equiti Capital’s FX Agency desk which grew 84% year-on-year.
Commenting on the financial results, Paul Webb, a director of Equiti Capital UK, said: “With our ambitious business plans and investment in strategic elements of the business, Equiti Capital continues to see the potential for strong growth in revenues over the next financial year.”
The company has been heavily focused on turning Equiti Capital UK, Equiti Group’s UK entity, into a centre of excellence to service the wider global group, particularly in terms of product development and marketing. A significant investment in the growth of the marketing team in London has bolstered the Group’s global marketing support, which is a key part of the long-term Group strategy. Similarly, the build out of the product team led to the launch of 80 leveraged and fully funded crypto CFDs to professional categorised clients, another area of investment for Equiti Capital.
Equiti Capital will continue to focus on technology for its Trading Operations and further enhancing the strong Compliance and Risk functions that have been embedded within the firm’s structure and culture.
The company entered 2022 in a strong financial position with $36m in capital.