Divisa Capital UK has just filed its annual returns for its fiscal 2017 with the UK Companies House. The company is reporting that last year was a significant milestone. The results encompass the company’s financial results just before the launch of its new retail arm led by Iskandar Najjar, Equiti.com.
Turnover increased by 112 percent to £4.67 million ($6.26 million), marking a new record for the firm. The bulk of the company’s revenues have come from outside of Europe with £0.4 attributed to the UK, £0.8 million to the rest of Europe and just over £3.4 million from rest of the world.
Gross profit increased by 158 percent year-on-year to about £3.5 million ($4.7 million). The company outlined that it is continuing to invest in infrastructure and technology in order to optimize the scaling of its operations, with a solid cash balance sheet in the aftermath of a landmark $100 million investment deal announced at the beginning of the year.
The firm’s growth comes despite low volatility across financial markets, and especially challenging conditions in FX in the first months of the year. Divisa UK expects that the company’s growth will only accelerate after the FCA approved the significant investment into the firm earlier this year.
A contributing factor to Divisa UK’s potential for faster growth this year is the return of FX volatility into the fray. Since the beginning of September a number of brokerages and ECNs have shared that trading volumes are significantly higher than in August. The final summer months have proven to be much more active than the bulk of the first half of the year.
This article originally appeared on Finance Magnates.