Sucden Financial delivered strong results in 2024, with profit before tax climbing by more than half compared to the previous year. The firm’s focus on technology upgrades and organic growth across core markets appears to be paying off.
The multi-asset execution, clearing, and liquidity provider reported a 54.6% jump in pre-tax profit to £36.7 million for the year ended 31 December 2024, up from £23.8 million in 2023. Net revenue rose 22.1% to £85.2 million, while total net assets increased to £181.1 million, a 7.1% improvement year-on-year.
Expansion Across Asset Classes
The company attributed its positive financial performance to broad-based gains across foreign exchange, fixed income, and commodities. CEO-level commentary pointed to an expanding client offering and strategic discipline.
“In 2024, Sucden Financial delivered a very positive performance across all key financial metrics, benefitting from supportive market conditions as well as the positive momentum we are building across the business,” commented Marc Bailey, Chief Executive Officer.
“Our prudent organic growth strategy and significant investments in technology mean we are able to offer clients a growing range of services across FX, fixed income, and commodities markets globally. We are well-positioned for the future with the stability and flexibility to support our clients in rapidly evolving market conditions.”
Sucden Financial Expands Total Assets
Established in 1973 and backed by its parent group, Sucden Financial, has grown from its commodity offering into a global multi-asset service provider. Despite its ownership structure, the company remains operationally independent and regulated by the UK’s Financial Conduct Authority.
In the latest financial report, Sucden Financial also highlighted an increase in its total net assets, which climbed 7.1% to £181.1 million from £169 million in the preceding year.
Sucden Financial’s annual financial reports have been on an uptrend. The company also saw a 30% jump in profits for 2023 and overall net assets for 2023 despite a 13% dip in revenue. The positive financial growth has enabled the company to expand geographically.
Early this year, Sucden Financial launched its European office in Hamburg, Germany. According to the company, the new office is authorized by Germany’s Federal Financial Supervisory Authority (BaFin) and is a member of the London Metal Exchange.
This article was written by Jared Kirui at www.financemagnates.com.Retail FXRead More
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