Sucden Financial has posted its financial results for 2017, highlighting record revenues and profits for the company throughout last year. For the year that ended on December 31, 2017, the company posted a net profit of £10.9 million ($14.93 million), an increase of 30 percent when compared to the previous year.
Net revenues totaled £48.7 million ($66.69 million), a figure which is higher by about five percent when compared to 2016. Total assets of Sucden Financial grew over £11 million ($15.06 million) pounds during 2017 to £101.6 million ($139.13 million).
Commenting on the company’s results, the CEO of the Sucden Financial, Michael Overlander, said: “Our latest financial figures reflect the stability and strength of our business. Revenues and profits are showing a healthy increase, as the benefits of substantial investments in both established and new business areas begin to be realized.”
“The firm holds a strong position for further growth, not only in our traditional commodity space but also in foreign exchange, bonds, and equities, where we continue to diversify the company’s activities,” Overlander elaborated.
Over the past year, Sucden Financial has been expanding its product portfolio. The brokerage opened access to major ECNs for trading foreign exchange last year in March 2017. The move was followed by the addition of FX options in May last year.