Trade Capital UK (TCUK) Ltd, the operator of Trade.com in the United Kingdom, has released its financial results for 2022 in a Companies House filing, revealing a significant increase in revenue. The company closed the year with an annual revenue of £759,240, marking a yearly growth of over 216%. This surge in revenue follows TCUK’s previous year’s achievement of £240,009.
In addition to its revenue growth, Trade.com’s UK operator achieved profitability in 2022. The company reported a net profit of £140,694, a substantial turnaround from the £71,861 loss incurred in the previous year. Furthermore, the company’s pre-tax profits showed a recovery, reaching £186,951 compared to the £99,868 loss experienced previously.
In 2022, TCUK achieved a gross profit of £508,806, considering direct expenses of £250,434 on its total revenue. However, the company did not generate income from other streams during that year, whereas it earned £60,812 as “other operating income” in 2021. Notably, the company effectively reduced its administrative costs from £408,100 to £354,237, further contributing to its overall profitability.
TCUK’s operating profit for 2022 reached £154,569, a significant improvement from the £127,529 loss reported in the previous year. Additionally, the company experienced a boost in net finance income, with figures climbing to £32,382 from £27,661.
Established in 2017, Trade Capital UK obtained approval from the Financial Conduct Authority (FCA) in September 2019 and launched its operations in mid-October of the same year.
