The London branch of Australian forex broker Pepperstone has revealed its financial figures for the year ending June 30th, 2022.
Pepperstone UK’s financial performance in the most recent fiscal year was much stronger than the year before. The company’s revenue rose by 36 percent, to £10.74 million. Operating expenses were slightly higher, at £4.90 million. As a result, operating profit more than doubled, to £3.76 million.
Pepperstone had a successful year in 2021, with increased revenues and profits before tax thanks to the introduction of a wide range of new products. In total, the company now offers more than 1,200 products across different asset classes, such as shares, cryptocurrencies, and ETFs. This was further helped by 2020’s exceptional financial performance due to Covid19-induced market volatility.
Moreover, the broker has now expanded to Europe, with clients trading with two regulated entities, Pepperstone EU Limited, regulated by the Cyprus Securities and Exchange Commission (CYSEC), and Pepperstone GMBH, regulated by The Federal Financial Supervisory Authority in Germany (BAFIN). Despite this, the UK business still saw an impressive 36% revenue growth in 2022.
At the end of the financial year on 30 June 2022, Pepperstone had £28 million in client funds held in separate bank accounts, which was an increase from the £14.4 million in the previous year. Pepperstone also announced its collaboration with TradingView and Capitalise.ai to make automated trading simpler.
Pepperstone, said:
In light of the above, the directors of the Company are satisfied with the results for the year. Whilst future predictions and trends are difficult to make, the Company 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
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