Exclusive: Pepperstone UK Revenues up 36% in 2022 to £10.7M
FNG Exclusive… FNG has learned that Pepperstone Limited, the London based, FCA licensed arm of Australia based Retail FX and CFDs broker Pepperstone, saw a nice increase in activity in 2022 leading to a 36% increase in Revenues from £7.9 million in 2021 to £10.7 million (USD $13.1 million) last year. Pepperstone has a June 30 fiscal year end.
On the bottom line Pepperstone UK saw profits more than double from £1.6 million in 2021 to £3.8 million (USD $4.6 million) in 2022.
The company said that the growth of the business is evident in the revenue earned and number of client trends since Pepperstone UK started operating in 2017. It is also worth noting that 2020 had an exceptional revenue (£12.7 million) and profit (£6.3 million) due to market volatility in that year as a result of COVID19, but also that the company still had its European clients. The European clients now trade with other regulated Pepperstone entities, namely Pepperstone EU Limited, regulated by the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, and Pepperstone GMBH, regulated by The Federal Financial Supervisory Authority in Germany (BaFin). Despite the European clients’ move, the Pepperstone UK has grown its revenue by 36% in 2022.
As at the year ended 30 June 2022, the balance of client funds held within segregated accounts was £28.9 million (2021: £14.4 million).
Pepperstone UK stated that it is fully committed to developing an offering that appeals to professional traders and retail clients who are generally more experienced and better informed about derivatives and financial markets than the average person.
During the year the company launched more than 150 new products across various asset classes including shares, cryptocurrencies and ETFs. In total, the products on offer are in excess of 1,200. The company partnered with TradingView as a platform provider and Capitalise.ai to enable easy access to automated trading.
Pepperstone UK’s 2022 income statement and balance sheet follow.