The UK
branch of foreign exchange (FX) and fixed-income software developer Smart Trade
Technologies has released its fiscal year 2024 results, showing growth in
turnover, revenue, and profits. Operating profits reached £2.2 million,
doubling from the previous year’s reported levels.
Smart Trade Technologies
Reports Strong Finish to FY24
In the
latest report filed with the UK’s Companies House, Smart Trade Technologies UK
Limited attributes the strong results for fiscal year 2024 (FY24) ending March
31 to increased activity and sales momentum in Europe and the UK.
The report
reveals that the company’s turnover stood at nearly £18 million, growing 16%
from £15.5 million. With sales costs remaining steady at under £14 million,
this translated into an increase in gross and operating profit as mentioned
earlier.
The final
net profit was £2.2 million, rising 69% from £1.3 million reported in fiscal
year 2023. This marks another year of net profit and a 1000% jump from two
years ago when net profit was just £200,000.
The
company’s assets also increased, growing from £1.9 million to £2.9 million.
Recently,
SmartTrade Technologies successfully expanded its Private Cloud offering to
Zürich, Switzerland, responding to growing client demand for enhanced hosting
and disaster recovery services in mainland Europe.
This
expansion, achieved in collaboration with Equinix, strengthens SmartTrade’s
global infrastructure, adding to existing sites in London, New York, and Tokyo,
and further demonstrates the company’s commitment to providing resilient and
geographically diverse solutions for critical trading and payments systems.
Other Financial Results
Several
other firms have also recently presented their FY24 reports. One of them was
Beeks Financial Cloud Group plc (AIM: BKS), which announced preliminary
financial results for the fiscal year ending June 30, 2024, noting revenue
growth and an increase in recurring revenue.
The cloud
computing and connectivity services provider for financial markets stated that
its FY24 revenue is expected to be approximately 27% higher than the previous
year. The company’s Annualized Committed Monthly Recurring Revenue (ACMRR)
reached £28.0 million, an 18% increase from £23.8 million reported at the end
of the previous fiscal year.
Meanwhile,
Japan’s Monex Group increased its net profit by nearly 850% to 31.5 billion JPY
in fiscal year 2024 compared to the previous period. At the same time,
operating revenue grew by 20% to 66.8 billion JPY.
This article was written by Damian Chmiel at www.financemagnates.com.
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