Advanced Markets UK Turns Profitable in 2021, Revenue Jumps 13%

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Advanced Markets UK Turns Profitable in 2021, Revenue Jumps 13%

<p>Advanced Markets (UK) Limited, the <a href="https://www.financemagnates.com/forex/brokers/exclusive-advanced-markets-launches-fca-regulated-uk-company/" target="_blank">FCA-regulated subsidiary</a> of the wider Advanced Markets Group, turned a profit in 2021 fiscal with a healthy jump in revenue as well.</p><p>The published numbers only show the performance of the UK unit and not the group or any other subsidiaries.</p><p>According to the latest Companies House filing of the company, it ended the financial year, ended on 31 December 2021, generating a revenue of $1.29 million. The figure was more than 13 percent higher than the one reported in the <a href="https://www.financemagnates.com/institutional-forex/advanced-markets-uk-sees-82-jump-in-fy2020-revenue/" target="_blank">previous year</a>.</p><p>Though the administrative costs to the company jumped to $1.31 million from $1.28 million, the company gained $49,850 from other operating income sources. It ended the year with an operating profit of $29,900, compared to an operating loss of $136,487 in the previous year.</p><p>A Profitable Company</p><p>After considering payable and receivable interest, the UK arm of the group reported a profit of $10,330, recovering from a loss of $111,367 in the last year. It was the first time the FCA-regulated arm of Advanced Markets has turned a profit since its establishment in 2018.</p><p>"The results for the period were in line with the expectations of the directors," the Companies House filing stated. " The combination of the changes in regulation and historical lows in the <a href="https://www.financemagnates.com/terms/v/volatility/" target="_blank" id="7fd330d9-8855-4c31-9770-cb52b328c117_1" class="terms__main-term">volatility</a> of the markets slowed the initial growth pattern that they were expecting. However, their long-term commitment remains."</p><p>"[The] fiscal year 2022 has started well, and the directors continue to expect positive returns moving forward."</p><p><a href="https://www.financemagnates.com/tag/advanced-markets/" target="_blank">Advanced Markets</a> provides institutional foreign exchange <a href="https://www.financemagnates.com/terms/l/liquidity/" target="_blank" id="47c3bef3-27ee-4953-8504-159e1b829b33_1" class="terms__secondary-term">Liquidity</a> and prime-of-prime services to the Forex and CFDs trading industry. The Group is headquartered in the United States and operates globally with a presence in several jurisdictions.</p><p>Earlier this month, Advanced Markets Group strengthened its compliance team by onboarding <a href="https://www.financemagnates.com/executives/moves/advanced-markets-names-evangeline-mauthe-as-compliance-and-aml-officer/" target="_blank">Evangeline Mauthe</a> as a Compliance and Anti-Money Laundering Officer.</p>

This article was written by Arnab Shome at www.financemagnates.com.

Source: Advanced Markets UK Turns Profitable in 2021, Revenue Jumps 13%