Trive Financial Services UK, formerly known as GKFX Financial Services and now operating as Trivepro, has reported a remarkable financial turnaround, ending 2022 with annual revenue of £10.79 million. This marks an astounding 815 percent increase from the previous year. The company also shifted from a loss of £2.2 million in 2021 to a profit of £2.49 million in 2022.

This incredible transformation in Trive Financial Services’ performance follows a strategic acquisition by The Netherlands-based Trive Investments BV in the previous year, which was accompanied by a comprehensive rebranding effort in September. The company now specializes in providing online financial services under the brand Trivepro, catering primarily to professional and institutional investors.

Trive Financial Services UK had previously restructured its operations in 2019 under its former ownership, focusing exclusively on serving professional and institutional clients. Retail clients were transitioned to a Malta-based affiliate during this period, and the UK business was rebranded as GKPro.

Trive Financial Services Revenue 2022

The company’s official filing with Companies House stated, “The company disposed of its Investments representing the core strategy to focus on the professional and institutional business arena as a part of the global Trive Group, servicing both the Group and external clients. As a result of the above strategic changes implemented over the last two years, revenues and related expenses have slightly increased from recent levels, providing a substantially increased gross profit.”

Analyzing the Financials

A closer look at the company’s income statement reveals that the substantial increase in revenue also led to a significant rise in sales costs, which reached £6.5 million. Simultaneously, administrative expenses saw a notable reduction, declining to £1.8 million from £7.8 million in 2021.

Trive Financial Services UK attributed a significant portion of its trading revenue to volume rebates obtained from counterparties with common ownership interests. The volume of trades executed on behalf of its clients influenced it. Additionally, the company reported ending a 2021 agreement to produce and provide services to counterparties, resulting in a “slightly reduced operating income and related administrative expenses.” Trive Financial Services UK, now operating as Trivepro, has successfully positioned itself as a key player in the professional and institutional financial services sector, with a strong focus on continued growth and profitability.

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