Global financial services platform Marex today released its financial results for the full year 2022.
During last year, the Group recorded strong financial performance driven by client activity.
According to the official statement, the company saw net revenue for the period of $701.5 million. The figure was 29.3% higher than it was for the previous year.
Ian Lowitt, Marex CEO, commented:
Ian Lowitt
Source: LinkedIn
We are delighted with these record results. The strong revenue growth reflects the increasing demand from our clients, who recognise our deep expertise and ability to deliver quality service and solutions.
Adjusted operating profit before tax (PBT) jumped 53% last year to $79.6 million from $12.7 million in 2021.
Adjusted operating PBT margins also increased to 17.3% compared to 14.7% for the previous year, resulting in an improved return of equity (ROE) of 17.7%. For the prior year, the number was 14.2%.
In 2022, Marex completed the acquisition of the financial services division of ED&F Man Group, ED&F Man Capital Markets. The move materially boosted company’s client offering and its global footprint in the Middle East and across the APAC region, and especially in the US.
Lowitt added:
We remain focused on our strategic growth initiatives, which are diversifying our business by adding products to our service segments and expanding geographically. A particular highlight this year has been the acquisition of the ED&F Man Capital Markets business, which materially expands our footprint, expertise and clients across the world.
