The Monex Group has released its Q2 financial figures recently. These show that crypto trading has become the most significant portion of its profit base from April to June 2021. The company made a pre-tax profit of ¥11.1 billion, this came from revenues of ¥27.32 billion. This revenue increased by ¥13.02 billion from the Q2 2020 revenue, almost a 100% growth.
Although revenues have experienced a dramatic increase, the same cannot be said for expenses. The Q2 2020 expenses stood at ¥12.3 billion, with 2021 showing a slightly higher figure at ¥16.2 billion. This means that a large proportion of the revenue increase will go towards making up profits for the company.
The pre-tax profit of ¥11.1 billion is almost ten times the amount for Q2 of 2020, which stood at ¥1.99 billion. This is clearly a much more considerable increase when compared to the rise in revenue. As already mentioned, revenue increased by almost 100%, while expenses only increased by around 30%. This is what allowed the pre-tax profit to increase by a much larger magnitude than revenue.
