GAIN Capital Holdings, Ltd., the UK subsidiary of , has just released its financial results for the fiscal year ending December 31, 2017, showing a strong uptick in its net income relative to last year.
GAIN’s total revenues for 2017 came in at £6.81 million ($8.86 million), which is three times higher than the £1.97 million ($2.57 million) recorded in the year prior.
The most notable area of strength this year at GAIN Capital was its administrative expenses which were reported at only £81,000 ($105,000) compared to more than £2.4 million ($3.16 million) in 2016.
In terms of bottom line, the net profit after tax achieved £6.68 million ($8.7 million) million compared to an adjusted net loss of £530,000 ($690,000) in the previous year.
For the same period, the parent company of the FCA-regulated firm, GAIN Capital Holdings, Inc. (NYSE: GCAP), reported dim results for Q4 2017, and the fiscal year ending on December 31, 2017.
GAIN’s net revenues under the US GAAP for 2017 netted a drop of 25 percent year-over-year, having declined to $308.6 million from $411.8 million reported back in the fiscal 2016.
The bottom line figure was also weaker after yielding a net loss of $11.2 million, or $0.20 per share, down 130 percent relative to a profit of $36.9 million in in the year ending December 31, 2016.
At the time, GAIN Capital said that the sweeping changes to US tax law knocked about $3.1 million, or $0.10 per share, off its profits for the end of 2017, as well as $5.7 million, or $0.13 per share, for the fourth quarter.
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