Pepperstone UK releases its financial report for 2022. The profit is getting much higher but still lower than in 2020.
Pepperstone UK generated high-profit last year but lower than it was in the pandemic era. Until June 30th, this ASIC-regulated brokerage reports its profit increasing to 128% to £4.6 million at the end of the fiscal year 2022. While in 2020, the profit of Pepperstone reached £7.7 million.
Pepperstone's revenue recorded its highest in 2020. Therefore, even if the profit is high, it will be compared to the 2020 record. UK Companies House noted that Pepperstone caught trading revenue 36% to £10.7 million during the 2022 financial year. Still, while the number shot up from £7.9 million in 2021, it failed to surpass the broker's revenue of £12.7 million in 2020.
The balance surged 100% from £14.4 million to £28.9 million in 2022, thanks to the balance of clients' funds held within segregated accounts on its platform.
Pepperstone UK is a subsidiary of Pepperstone Australia. The company just added 150 new products across asset classes including shares, cryptocurrencies, and exchange-traded funds, bringing the total to over 1200. It explained that the revenue comes from commissions, swaps, and spreads against CFDs and spread bets. The company noted that the revenue earned and the client trend are better increased.
"The European clients now trade with other regulated Pepperstone entities, namely Pepperstone EU Limited regulated by the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, and Pepperstone GMBH regulated by the Federal Financial Supervisory Authority in Germany (BaFin)," the brokerage explained.