ITI Capital, an international FCA-regulated financial service company that provides dealing and brokerage services to retail traders as well as institutional clients across the globe, has reported a significant increase in revenue throughout 2020.
They announced their numbers for December 31st which shows they have seen a growth of 69% from the previous year’s totals during this same time frame; increasing from GBP3.46 million to a whopping GBP5.83 million within the twelve months alone! Not bad considering how shaky the financial markets have been!
The company has been able to narrow down its operations and overall losses; thanks in part, to the revenue that’s being generated. It ended this past year with a pre-tax loss of GBP2.4M while the previous year’s total was at GBP2.91 million. If anything, it seems they may finally break even for good by the next financial report!
On its official statement, the broker commented, “2020 was a difficult year for the business with it managing both a significant acquisition and dealing at the same time with keeping its existing business operations going throughout the onset and development of the Covid pandemic. The board remains optimistic that despite a loss incurred during 2020, the investment that has now been made in improving the business operating infrastructure combined with the recruitment of key new personal, that these initiatives will set the foundations of a more profitable and dynamic business in the future.”
The UK operations of the broker were recently reorganized under a new CEO, COO, and CRO. The changes came in an effort to improve governance structures within the company as it continues to expand!
Additionally, the increase in revenue can be attributed to acquisitions of now-defunct SVS Securities.
ITI Capital has added over 21,000 new clients. They will get access to saving for their future with the distressed broker. This is an important move in their continuing effort on streamlining operations and increasing profitability!
The broker kept GBP74.8 million of the client’s cash at year-end. This adds up to 104% higher than before and a clear sign that they are doing well in their business!
The broker added, “Further additional improvements were made in our technology covering order management, trade surveillance and reporting, settlement, accounting, and client reporting.”
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