Exclusive: Equiti Capital sees Revenues increase 5% in 2021 to $32.5M, profits double
FNG Exclusive… FNG has learned via regulatory filings that Equiti Capital UK Limited, the FCA regulated institutional/B2B arm of UAE based global FX and CFDs brokerage Equiti Group, continued on its growth path in 2021, posting a healthy 5% increase in Revenue while more than doubling bottom-line profits.
Revenues for 2021 at Equiti Capital came in at $32.5 million, up 5% from $30.9 million the previous year. Net profit totaled $3.7 million, up 113% from $1.7 million in 2020.
In a year which saw some of their competitors falter, record volumes were generated by Equiti Capital’s FX Agency desk in 2021 which grew 84% year-on-year.
Commenting on the financial results, Paul Webb, a director of Equiti Capital UK, said to FNG:
“With our ambitious business plans and investment in strategic elements of the business, Equiti Capital continues to see the potential for strong growth in revenues over the next financial year.”
In July 2021 Equiti UK received a USD $10 million capital injection from parent Equiti Group Limited. The company said that the increase in share capital will further strengthen Equiti UK’s balance sheet and support several strategic business expansion initiatives underway.
The company noted that it has been heavily focused on turning Equiti Capital UK, Equiti Group’s UK entity, into a centre of excellence to service the wider global group, particularly in terms of product development and marketing. A significant investment in the growth of the marketing team in London has bolstered the Group’s global marketing support, which is a key part of the long-term Group strategy. Similarly, the build out of the product team led to the launch of 80 leveraged and fully funded crypto CFDs to professional categorised clients, another area of investment for Equiti Capital.
Equiti Capital said it will continue to focus on technology for its Trading Operations and further enhancing the strong Compliance and Risk functions that have been embedded within the firm’s structure and culture.
The company entered 2022 in a strong financial position with $36 million in capital.
Equiti Capital’s 2021 income statement and balance sheet follow: