Tradeslide Trading Tech Limited, the company behind the
Darwinex brand in the UK, released its financial results for the year ended
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 ended December 2022.
Tradeslide’s profit increased 54% from €377k to €582k. Operating
profit declined 45% from € 466,812 to €252,566. Commenting on the financial
report, it mentioned: “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. Similarly, gross
profit dropped from €7.8 million to €5.3 million. Tradeslide, renowned for
offering brokerage and investment management services, posted no change on
capital or debt position. The firm mentioned that it continues to re-invest
incremental revenue to scale the business.
During this period, the company mentioned that its partnership agreement with IBKR was implemented 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.
Expect ongoing updates as this story evolves.
Tradeslide Trading Tech Limited, the company behind the
Darwinex brand in the UK, released its financial results for the year ended
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 ended December 2022.
Tradeslide’s profit increased 54% from €377k to €582k. Operating
profit declined 45% from € 466,812 to €252,566. Commenting on the financial
report, it mentioned: “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. Similarly, gross
profit dropped from €7.8 million to €5.3 million. Tradeslide, renowned for
offering brokerage and investment management services, posted no change on
capital or debt position. The firm mentioned that it continues to re-invest
incremental revenue to scale the business.
During this period, the company mentioned that its partnership agreement with IBKR was implemented 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.
Expect ongoing updates as this story evolves.
This post is originally published on FINANCEMAGNATES.
