Sucden
Financial Limited has released its full annual report for the year ended
December 31, 2024, revealing better financial condition and strategic
expansion beyond the headline figures announced earlier this month.
Sucden Financial Boosts
Dividend by 50% as Return on Capital Nearly Doubles
The
London-based broker, a ring dealing member of the London Metal Exchange (LME),
confirmed its
previously reported 54% increase in profit before tax to £36.7 million, up
from £23.8 million in 2023. The company’s detailed filing with Companies House
provides a more complete picture of its financial health and global growth
initiatives.
Among the
newly disclosed details, Sucden Financial reported a substantial 50% increase
in dividend payments to £15 million, up
from £10 million in 2023. The company’s return on capital employed nearly
doubled to 11.9% from 7.01% in the previous year, while its net cash balance
grew to £270.1 million from £225.5 million.
“The
Group made a profit before taxation in 2024 of £36.7 million,” the report
stated. “We seek to increase our operating profit by extending core and
developing services to a growing client base.”
The
detailed financial statements show that operating profit rose to £21.5 million
from £11.9 million, while finance income increased to £17.0 million from £13.5
million. The company’s tax expense grew to £9.3 million from £5.9 million,
resulting in a profit for the year of £27.5 million compared to £17.9 million
in 2023.
Marc
Bailey, Director of Sucden Financial, was quoted in the company’s earlier
announcement stating: “In 2024, Sucden Financial delivered a very positive
performance across all key financial metrics, benefitting from supportive
market conditions as well as the positive momentum we are building across the
business.”
Branches in Germany and
Singapore
The annual
report reveals significant progress in Sucden Financial’s global expansion
strategy. The company’s German subsidiary, Sucden Financial Hamburg GmbH,
received regulatory approval from Germany’s Federal Financial Supervisory
Authority (BaFin) in 2024 and
commenced operations on January 2, 2025. Sucden Financial holds a 64%
ownership stake in this subsidiary.
Additionally,
the broker established a new branch in Singapore to strengthen its presence in
the Asia-Pacific region, complementing its existing subsidiaries in Hong Kong
and the United States.
“The
Group is well positioned to continue to adapt to changing markets, technology,
regulations and trading environments,” the report noted. “We will
continue to evolve our products and systems in order to grow and create new
opportunities for our clients.”
Sucden Financial Limited –
Key Financial Data 2024
|
Financial Metric |
2024 |
2023 |
Change |
% Change |
|
Profit before taxation |
£36.7m |
£23.8m |
£12.9m |
54.2% |
|
Net revenue |
£85.2m |
£69.7m |
£15.5m |
22.2% |
|
Operating profit |
£21.5m |
£11.9m |
£9.6m |
80.7% |
|
Finance income |
£17.0m |
£13.5m |
£3.5m |
25.9% |
|
Profit for the year |
£27.5m |
£17.9m |
£9.6m |
53.6% |
|
Shareholder funds |
£181.1m |
£169.0m |
£12.1m |
7.2% |
|
Net cash balance |
£270.1m |
£225.5m |
£44.6m |
19.8% |
|
Return on capital employed |
11.90% |
7.01% |
4.89% |
69.8% |
|
Staff turnover |
5.94% |
8.87% |
-2.93% |
-33.0% |
|
Dividends paid |
£15.0m |
£10.0m |
£5.0m |
50.0% |
|
Average headcount |
222 |
205 |
17 |
8.3% |
Sucden
Financial also reported improved workforce stability with staff turnover
decreasing to 5.94% from 8.87% in the previous year. The average headcount rose
to 222 employees from 205, reflecting the company’s growth.
The company
offers execution and clearing services for exchange -traded products, OTC FX,
and bullion products, with its business structured into two main lines:
brokerage services and trading.
Sucden
Financial Limited has released its full annual report for the year ended
December 31, 2024, revealing better financial condition and strategic
expansion beyond the headline figures announced earlier this month.
Sucden Financial Boosts
Dividend by 50% as Return on Capital Nearly Doubles
The
London-based broker, a ring dealing member of the London Metal Exchange (LME),
confirmed its
previously reported 54% increase in profit before tax to £36.7 million, up
from £23.8 million in 2023. The company’s detailed filing with Companies House
provides a more complete picture of its financial health and global growth
initiatives.
Among the
newly disclosed details, Sucden Financial reported a substantial 50% increase
in dividend payments to £15 million, up
from £10 million in 2023. The company’s return on capital employed nearly
doubled to 11.9% from 7.01% in the previous year, while its net cash balance
grew to £270.1 million from £225.5 million.
“The
Group made a profit before taxation in 2024 of £36.7 million,” the report
stated. “We seek to increase our operating profit by extending core and
developing services to a growing client base.”
The
detailed financial statements show that operating profit rose to £21.5 million
from £11.9 million, while finance income increased to £17.0 million from £13.5
million. The company’s tax expense grew to £9.3 million from £5.9 million,
resulting in a profit for the year of £27.5 million compared to £17.9 million
in 2023.
Marc
Bailey, Director of Sucden Financial, was quoted in the company’s earlier
announcement stating: “In 2024, Sucden Financial delivered a very positive
performance across all key financial metrics, benefitting from supportive
market conditions as well as the positive momentum we are building across the
business.”
Branches in Germany and
Singapore
The annual
report reveals significant progress in Sucden Financial’s global expansion
strategy. The company’s German subsidiary, Sucden Financial Hamburg GmbH,
received regulatory approval from Germany’s Federal Financial Supervisory
Authority (BaFin) in 2024 and
commenced operations on January 2, 2025. Sucden Financial holds a 64%
ownership stake in this subsidiary.
Additionally,
the broker established a new branch in Singapore to strengthen its presence in
the Asia-Pacific region, complementing its existing subsidiaries in Hong Kong
and the United States.
“The
Group is well positioned to continue to adapt to changing markets, technology,
regulations and trading environments,” the report noted. “We will
continue to evolve our products and systems in order to grow and create new
opportunities for our clients.”
Sucden Financial Limited –
Key Financial Data 2024
|
Financial Metric |
2024 |
2023 |
Change |
% Change |
|
Profit before taxation |
£36.7m |
£23.8m |
£12.9m |
54.2% |
|
Net revenue |
£85.2m |
£69.7m |
£15.5m |
22.2% |
|
Operating profit |
£21.5m |
£11.9m |
£9.6m |
80.7% |
|
Finance income |
£17.0m |
£13.5m |
£3.5m |
25.9% |
|
Profit for the year |
£27.5m |
£17.9m |
£9.6m |
53.6% |
|
Shareholder funds |
£181.1m |
£169.0m |
£12.1m |
7.2% |
|
Net cash balance |
£270.1m |
£225.5m |
£44.6m |
19.8% |
|
Return on capital employed |
11.90% |
7.01% |
4.89% |
69.8% |
|
Staff turnover |
5.94% |
8.87% |
-2.93% |
-33.0% |
|
Dividends paid |
£15.0m |
£10.0m |
£5.0m |
50.0% |
|
Average headcount |
222 |
205 |
17 |
8.3% |
Sucden
Financial also reported improved workforce stability with staff turnover
decreasing to 5.94% from 8.87% in the previous year. The average headcount rose
to 222 employees from 205, reflecting the company’s growth.
The company
offers execution and clearing services for exchange -traded products, OTC FX,
and bullion products, with its business structured into two main lines:
brokerage services and trading.
This post is originally published on FINANCEMAGNATES.
