UK derivatives dealer (CMC) released a financial report covering its most recent fiscal year today. Despite a slight decrease in the number of user accounts, the firm reported growth in revenues and profits which reflected an increase in the number of trades and the average value of those trades.

At the end of , CMC reported total revenue of £160.8 million ($216.43 million). Today’s report shows that this figure grew to £187.1 million ($251.83 million) in the last fiscal year, representing a 16 percent year on year increase.

More positive than growth in revenue was the increase in profit. Pre-tax profit grew to £60.1 million ($80.89 million) last year, up from £48.5 million ($65.28 million) in the previous fiscal year – a 24 percent increase.

A massive increase in post-tax profit

In percentage terms, post-tax profits grew even more than pre-tax profits. These increased from £39.2 million ($52.76 million) in 2017 to £49.7 million in the most recent fiscal year. This represented year on year growth of 27 percent.

All of this growth took place despite a 2 percent drop in the number of active accounts using CMC’s services. CMC’s remaining clients were able to make up for this decrease by upping their activity and increasing the value of the trades they made.

Today’s report shows that the derivatives dealers’ clients made 68.4 million trades last year. This was a 9 percent increase on the previous year when they made 62.7 million trades.

On top of this, the total value of those trades grew by a whopping 28 percent. In 2017, clients traded a total of £2.07 trillion ($2.71 trillion) with CMC, and this grew to £2.59 trillion ($3.48 trillion) last year.