Sucden Financial’s Revenues Rise in 2016, Profits Take Slight Hit

Sucden Financial, a commodities and financial futures brokerage, has reported its full year 2016 financials, which saw its business largely continue a positive course for the year. Despite a few mixed results, the group maintained steady profits, also incurring less staff turnover relative to the year prior, per a regulatory filing.

In particular, Sucden Financial continued its string of profitable years, reporting an operating profit of $9.9 million (£7.7 million) – relative to the year prior, this figure did represent a decline however of -6.1 percent year-over-year from $10.5 million (£8.2 million) in 2015.

Looking at its net revenue, Sucden Financial scored a higher figure in 2016, coming in at $59.7 million (£46.5 million), good for a boost of 7.1 percent year-over-year from $55.7 million (£43.4 million) in 2015. Continuing with this trend, shareholder funds at Sucden Financial in 2016 were also on the uptick, showing a figure of $115.5 million (£90.0 million) vs. just $110.1 million (£86.6 million), or 3.9 percent higher year-over-year.

Sucden Financial’s return on capital was slightly lower in 2016, reporting a figure of 8.6 percent for the year, compared to 9.5 percent in 2015. Moreover, the group’s net cash balance retreated to $132.2 million (£103.0 million) in 2016, down -8.7 percent year-over-year from $144.7 million (£112.8 million).

Staff turnover was also down on a yearly basis, given Sucden’s closure of its Private Client Desk. As such, its staff turnover came in at 12.6 percent in 2016, relative to 19.0 percent in the year prior.

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *