Tradeslide Trading Tech Limited, the company behind the
Darwinex brand in the UK, released its financial results for the year 2023, highlighting an increase in profit despite a decline in revenue. The firm’s
equity jumped 29% compared to the previous year, which covered an 18-month
period that ended in December 2022.
Tradeslide Boosts Capital
Tradeslide’s profit increased 54% from €377k to €582k. Operating
profit declined 45% from €466,812 to €252,566. Tradeslide commented on the financial
report: “The company has significantly improved gross profit in
comparison with the last 12-month period, as well as optimized its fixed cost
base. Profitability enabled the company to shore up its capital position
throughout 2023.”
According to the financial results published in UK Companies
House, turnover dropped from €9.6 million to €7 million, and gross profit reduced from €7.8 million to €5.3 million. Tradeslide, renowned for offering brokerage and investment management services, posted no change in capital or debt position. The firm explained that it continues to reinvest incremental revenue to scale the business.
The company revealed that its partnership agreement with IBKR was implemented during this period following the integration of its technology. This initiative enables the firm to expand its customer base. Additionally,
Tradeslide mentioned that it is searching for new market opportunities to
broaden its services.
Last Year’s Performance
Last year, Tradeslide released the annual financial report for the period that ended in December 2022, disclosing a 70% upsurge in
profit. The figure jumped from €225,000 the previous year to €377,000.
Additionally, the brokerage firm’s gross profit reached more than €7 million
from €4 million. Generally, the firm’s turnover soared from €5 million to €9
million.
Tradeslide noted in the report that the amount of money held by its traders remained stable during that period. Among its highlighted achievements was the integration with the renowned American electronic marketplace Interactive Brokers. According to the firm, the integration offers
Darwinex’s users access to the electronic trading platform’s shares, futures,
and exchange-traded funds.
This article was written by Jared Kirui at www.financemagnates.com.
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