The UK operation of Admiral Markets has gained traction in 2014, a filing with the United Kingdom’s Companies House shows. The broker regulated by the Financial Conduct Authority has marked a substantial increase in turnover which led to a profitable year with customer deposits rising to £1.66 million ($2.6 million).
For the twelve months ending on December 31st, 2014, the company generated a turnover of £463,828 ($725,000), which compares to £42,404 ($66,000) for 2013. The operating profit was £11,088 ($17,000), which is the first positive result, moving Admiral Markets UK into the black.
The UK regulated subsidiary of Estonia incorporated Admiral Markets AS is an effort to diversify the broker’s business at a time when the regulatory credibility of the Financial Conduct Authority (FCA) remains the most sought after due to its international reputation.
That said, the and the in the aftermath of the have been weighing on the credibility of the UK regulator, according to some industry insiders.
Looking at the UK operations of Admiral Markets, the broker’s business remains small yet that is likely to change in the coming year as .
The key performance metrics for the company have turned positive with the net profit margin coming in at 0.97 percent, while the return on investment was 0.2 percent. While being a long way from making substantial amounts of profits the figures are in stark contrast to the metrics a year ago.
In 2013, Admiral Markets UK registered a negative 128 percent in net profit margin and -28 percent return on investment. As of December 31st, 2014, the firm’s cash position totaled £207,673 ($324,732) which is 53 percent higher than a year ago.
Admiral Markets AS has in the fall of 2014.
According to the company’s CEO, Dmirty Laush, the background for the move was to consolidate the business of Admiral Markets into a single European subsidiary while providing the oversight of the most trustworthy regulator on the continent.
All European and Estonian clients of Admiral Markets were informed by the company that in September last year.
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