Tickmill UK Ltd concluded the fiscal year 2022 with an annual revenue of £6.18 million, marking a 19.5% decrease from the previous year’s £7.6 million. The company’s yearly net profit also experienced a significant downturn, halving to £643,284.
According to the latest Companies House filing, the UK-registered entity reported an operating profit of £809,782 for the year, derived from combining income from various sources and subtracting administrative expenses. Despite successfully reducing administrative costs, the decline in revenue led to a more than 46% reduction in operating profit.
Tickmill UK: Annual Revenue Drops 19.5% in 2022
The pre-tax profit for Tickmill UK Ltd was recorded at £786,901, a notable decrease from the £1.48 million reported in the prior year. After accounting for taxes, the net profit figure saw a decline of over 49% compared to 2021, falling from £1.27 million.
Tickmill, a globally recognized retail brokerage brand, extends its services beyond the UK to include regulated subsidiaries in Dubai, Cyprus, South Africa, Seychelles, and Malaysia. However, the figures disclosed in the Companies House filing exclusively reflect the performance of the UK entity and not that of any other global subsidiaries.
The primary sources of revenue for Tickmill UK are spreads on contracts for differences (CFDs) and commissions charged on exchange-traded derivatives. The filing also unveiled a decrease in the company’s return on capital employed, dropping to 5% from the previous year’s 9.4%. Despite this, the money under management showed improvement, increasing to £16.7 million from £16.4 million.
The trading volume handled by the UK-registered company experienced a decline, reaching $189 billion in notional value compared to the previous year’s $195 billion.
In the face of challenging trading and regulatory conditions, along with significant geopolitical factors, the management of Tickmill UK expressed encouragement in the results, citing capital employed, trading volume, and profitability as key performance indicators monitored by the company.
Stay Updated with the Latest Broker News.