Trading 212 Limited has recorded a turnover of over £98.7 million in the UK and pre-tax profits amounting to £50.8 million in 2022, as per its filing with Companies House. It was a 5% increase from 2021’s revenue figure of £94 million. Meanwhile, other operating income reduced to £1.7 million £1.7 million from £4.5 million, and administrative expenses rose to £49.1 million from the preceding year’s £42.4 million.
Furthermore, financial income for Trading 212 had an upward trend, but so did financial expenses, which were higher at £918,724 compared to 2021’s figure of £265,181. As a result, their pre-tax profits dropped by more than 9%. Their UK business yielded £41.1 million as profit for 2022 – which was 9 percent lower than what it had earned in 2021 (£45.2 million).
Trading 212 is an established platform that provides Contract for Differences (CFDs) and a stockbroking service. Its ambition is centered around its stockbroking arm, which seeks to grow the value of customer money and assets held under its balance. This progress is partly due to market conditions but also thanks to the rising popularity of Trading 212’s platform and offerings.
New Customers
As part of its plan, the UK brokerage resumed voluntary client onboarding in 2022 after rapid growth. Trading 212 received 165,968 new retail customers in the last quarter of that year. Additionally, due to Brexit factors, about 14% of their customers were transferred to Trading 212 Markets Limited – based in Cyprus and regulated by them.
The holding company for the Trading 212 group, Trading 212 Group Limited, saw an 11.2% growth in revenue of £138.7 million for 2021 and a substantial 473% increase in pre-tax profits to the tune of £86 million. There is still no news on their performance for 2022 yet.
COMMENTS