Equiti Capital UK Limited has reported an increase in profit in the financial year ended on 31 December 2020. According to information shared with LeapRate, the firm registered $1.8 million in profit, a 209% increase from the previous year when it reached $569,000.
The company’s annual revenues reached $31 million, a 25% rise from $24.6 million in 2019. This increase in revenue was driven by a strong Equiti UK Balance Sheet, with net assets of $22.4 million.
Nigel Holmes, Acting CEO of Equiti UK and Director of the Equiti UK Board, said:
The increase in revenues and profitability can be attributed to strong risk management and controls, good governance and systems in place, and a motivated and dedicated workforce and new business, supported by volatility in the markets due to the pandemic and the global economic situation. The continued growth in headcount is in line with the strategic development plans for the company.