The UK-based company Tradeslide Trading Tech Limited, which works under the Darwinex brand, has issued its 2023 financial results, indicating a growth in profitability in spite of a drop in revenue. The equity of the company increased by 29% over the previous year, representing 18 months that finished in December 2022.
Tradeslide Strengthens Capital Position
According to Tradeslide, profit soared by 54%, growing from €377,000 to €582,000; however, its operating profit dropped by 45%, from €466,812 down to €252,566. According to the company in regards to its financial standing, ‘The business has markedly raised its gross profit relative to the last 12-month period and has effectively optimized its fixed costs. This profitability has made it possible for us to build on our capital during 2023.
According to the company’s financial statements submitted to the UK Companies House, both total turnover and gross profit fell from €9.6 million to €7 million, and €7.8 million to €5.3 million, respectively. Recognized for its brokerage and investment services, Tradeslide held its capital and debt positions while stressing its reinvestment strategy for added revenue to stimulate business growth.
In the year, Tradeslide partnered strategically with Interactive Brokers (IBKR), following the successful deployment of its technology focused on widening its client base. According to the company, it is also investigating new market prospects to widen its service portfolio.
Performance Overview of the Previous Year
For the financial period ending December 2022, Tradeslide reported a 70% increase in profit, jumping from €225,000 to €377,000. The firm’s gross profit surged to over €7 million from €4 million, and turnover rose sharply from €5 million to €9 million.
In its previous report, Tradeslide noted that trader-held funds remained steady, highlighting the successful integration with Interactive Brokers, a leading American electronic marketplace. This partnership grants Darwinex users access to a wide range of financial instruments, including stocks, futures, and exchange-traded funds, thereby enhancing the overall trading experience.