ADS Securities London Limited, the FCA regulated arm of Abu Dhabi based global international financial services firm ADS Securities LLC, has released its 2016 financial results indicating that the company continued to grow in its first full year of operation after opening a London office in early 2015.
ADS London reported Revenues of £5.4 million in 2016, up 60% from £3.4 million in 2015. The company also significantly cut its loss – properly looked at as start-up costs – from £5.5 million in 2015 to £3.0 million last year as a restructuring of the business including a 40% reduction in workforce took hold. We discussed some of those changes in a January 2017 interview with the company’s global COO Marco Baggioli.
ADS London received a capital injection of £2.5 million from its parent company in March 2016. Following the aforementioned restructuring and management changes ADS London reported that it is now profitable on a monthly basis, and has maintained a capital cushion of at least 10% above FCA regulatory requirements.
ADS London’s 2016 income statement follows:
