ActivTrades PLC, the UK-based financial markets broker, reported revenue of £50.2 million for the year ended Dec. 31, 2022, up 50% from £33.4 million in the prior year, according to filings with UK Companies House.
The online trading firm, which offers contracts for difference and spread betting in forex, indices, commodities and equities, posted profit before tax of £19.3 million, a significant increase from £4.1 million in 2021. Profit after tax rose to £16.3 million from £3.4 million the previous year.
Operating profit climbed to £18.8 million compared with £4.1 million in 2021. The company attributed the strong performance to market volatility in financial markets and an expanding customer base.
Gross profit reached £47.2 million, up from £30.9 million in 2021, while administrative expenses increased 11% to £28.4 million from £26.8 million.
The group’s average headcount rose to 243 employees from 227 in the prior year. ActivTrades PLC operates a branch in Bulgaria handling technology and risk management functions, with approximately half of branch staff working in IT development.
Client money held off balance sheet totaled £89.8 million at year end. The company paid dividends of £30 million during 2022, compared with £1.5 million in 2021, with the increase attributed to shareholder reinvestment in StreamBank PLC, a separate legal entity outside the ActivTrades Group.
The firm is authorized and regulated by the Financial Conduct Authority and provides services to UK and non-UK customers.
