Advanced Markets UK’s revenue up 13% in 2021

Steffy Bogdanova
September 29, 2022 11:05 am

Advanced Markets Group’s FCA-regulated subsidiary, Advanced Markets (UK) Limited, has released its trading volumes for the financial year 2021, ending 31 December. During the last year, the company turned a profit and registered an increase in revenue.

According to its Companies House filing, Advanced Markets UK’s revenue stood at $1.29 million in 2021. This was more than a 13% jump, compared to the previous year.

During the past year, the administrative costs reached $1.31 million from $1.28 million. Even so, the UK arm of the Group earned $49,850 from other operating income sources. Furthermore, the operating profit for the year came in at $29,900, compared to an operating loss of $136,487 in 2020.

Advanced Markets collaborates with Takeprofit Tech

Advanced Markets UK reported $10,330 in profits for 2021, compared to a loss of $111,367 in the previous year. This is the first time the UK entity turned profit since it was established in 2018.

The company stated in the Companies House filing:

The results for the period were in line with the expectations of the directors. The combination of the changes in regulation and historical lows in the volatility of the markets slowed the initial growth pattern that they were expecting. However, their long-term commitment remains.

Fiscal year 2022 has started well, and the directors continue to expect positive returns moving forward.

 

LeapRate Analyst

Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
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