Alpari UK 2013 financial statements indicate flat revenues at £55.7M, a £6.3M net loss, £100M of client balances, and $97B average monthly volumes.
LeapRate Exclusive… LeapRate has had an exclusive look at the just-filed 2013 financial statements of retail forex broker Alpari UK. The company posted a loss of £6.3M ($10.4 million) on revenues of £55.7M ($93 million) for the year ended December 31, 2013. Revenues were basically flat from 2012 (see summary financials below).
Volumes at Alpari UK totaled $1.16 trillion during 2013, meaning average monthly volumes of about $97 billion. Volumes were actually up handsomely — 68% in fact — from $58 billion per month (average) in 2012, meaning that Alpari earned much lower spreads-per-volume in 2013.
Client volumes remained steady during the year at Alpari UK, totaling £100 million ($167 million) at year end 2013, down slightly from £101.3 million in 2012.
2013 was a year of change at Alpari UK. CEO Daniel Skowronski left during the year and was replaced by marketing head David Hodge. The company also shut down its India operations.
It should be noted that, although they share common ownership, Alpari UK and Alpari Russia are separate entities and are separately managed companies. Within the overall Alpari Group, Russia / former CIS countries makes up about half of the company’s total trading volumes.
We’ll get our readers more information and details as they become available.