CPT Markets UK Ended 2022 in a Loss despite 39% Revenue Rise

<p dir="ltr">The UK entity of CPT Markets, a forex and contracts for differences (CFDs) broker, revealed its financials in the latest Companies House filing as it ended fiscal 2022, which ended on December 31, with a turnover of £787,845, an annual increase of more than 39 percent.</p><p dir="ltr">CPT Markets Re-Organized the Infrastructure</p><p dir="ltr">“This increase reflects the drive to recruit new sales personnel to increase the firm’s global presence, having spent the previous year re-organizing the existing infrastructure. The firm has also successfully applied for a Variation of Principle with the <a href="https://www.financemagnates.com/tag/fca/">FCA</a>, which will allow for the expansion of the existing product range, to encompass a genuine <a href="https://www.financemagnates.com/forex/brokers/the-rise-of-multi-asset-trading-platforms-for-forex-b2b-clients/">multi-asset offering to clients</a>.”</p><p dir="ltr">“The firm’s objective is to enable clients to trade <a href="https://www.financemagnates.com/terms/e/equities/">equities</a>, fixed income and futures and option products, in addition to the existing range of products, on an execution-only basis.”</p><p dir="ltr">Cost Also Went Up</p><p dir="ltr">The revenue growth also resulted in a drastic rise in the sales cost of the company, which went up to £134,877 from £49,737. It turned a gross profit of £652,968 compared to £515,576 in the previous year.</p><p dir="ltr">The administrative expenses of the UK company came in at £1.17 million, almost in line with the previous year’s £1.08 million. Considering interests and other income, the broker ended the year with a loss of £512,879, which is lower than £564,071 reported in the previous year.</p><p dir="ltr"><a href="https://www.financemagnates.com/institutional-forex/regulation/exclusive-cpt-markets-citypoint-acquires-fca-ifpru-e730k-license/">Outside the UK</a>, CPT Markets (previously known as Citypoint Trading) also operates globally, with licenses from the regulators in Belize and South Africa. However, the Companies House filing only the business performance of the FCA-regulated British entity, not the global ones.</p><p dir="ltr">“The company continues to implement and develop a sustainable business model to support its future plans and ambitions, allowing it to successfully conduct and grow its business as a regulated firm,” the Companies House filing added. “It can act as an agent or principal and trade on its own account.”</p>

This article was written by Arnab Shome at www.financemagnates.com.