Admiral Markets AS 2018 Unaudited 6 Months Financial Results

 Admiral Markets AS 2018 Unaudited 6 Months Financial Results

Admiral Markets AS reports record-breaking first half results for 2018.

Admiral Markets AS earned record revenue and profits during the first six months of 2018. Net trading income of the company increased to 12.6 million euros in the first half of 2018, which is 3.6 million euros more than a year ago. The growth in net trading income can be mainly attributed to an increase in trading volumes and the number of active customer accounts of the Group. The company’s net profit was 5.0 million euros, or 127% higher compared to 2.2 million euros a year earlier. The company’s profit margin also increased, which was 40% compared with 24% year-on-year. The return on equity of Admiral Markets AS was 17.2% at the end of the first half of 2018.

“The level of own funds of Admiral Markets AS grew due to the inclusion of profit in the composition of own funds and amounted to 27.8 million euros at the end of June 2018. Also, capital adequacy grew by the end of June, reaching 31.3%, which is 8.7% higher compared to the end of December 2017, indicating a good level of capitalization of the company. The cost to income ratio fell to 61% by the end of June 2018, which is a sign of further improvement in the operational efficiency of Admiral Markets AS”, said Sergei Bogatenkov, Chairman of the Management Board of Admiral Markets AS.

Admiral Markets Group AS, the parent company of Admiral Markets AS, also showed record results in the first half of 2018. The consolidated net trading income of Admiral Markets Group AS for the first six months of 2018 increased to 16.9 million euros, which is 4.1 million euros more than a year earlier, and consolidated net profit was 5.9 million euros, or 111% more than 2.8 million euros a year before. As of 30 June 2018, the off-balance sheet assets (client assets) of the consolidation group totalled 26.2 million euros, and the number of active customer accounts was over 28,600. The number of active customer accounts increased by 11% as compared to the end of 2017.

“Admiral Markets AS first half of 2018 results were positively influenced by the launch of several successful marketing projects, the addition of new instruments to the company’s trading portfolio, a new mobile application, which makes trading even more convenient for clients and increased volatility in global financial markets”, said Sergei Bogatenkov.

In the second half of 2018, Admiral Markets will continue to implement its global strategy, which, among other things, will include the continued expansion of the group to new markets, extending the offer to institutional customers and professional clients to increase their share among the customers of the company. The plans include also the development and launch of a new personal Trader’s Room, the update of the mobile application and the launch of a new self-education program for financial markets training.

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Please note that the announcement should not be considered as investment advice, consultancy or other ancillary services. Before making the investment decision, Admiral Markets AS recommends you to consult with advisers.