ADSS UK Reports 37.4% Jump in 2021 Gross Profit

ADS Securities London Limited has disclosed its financials for fiscal 2021, ending on December 31 2021, showing a 34 percent YoY decline in its year-on-year revenues (excluding Transfer Pricing).

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However, the FCA-licensed company reported a total revenue of £4.51 million, which is 45.7 percent higher than the previous year's £3.09 million. It generated a gross profit of £4.14 million, this was 37.4 percent up from £3.01 million in the previous year.

The administrative expense of ADSS UK have increased significantly. The company spent £3.73 million in the year, which is up from the previous year's £2.76 million. That was a year-over-year increase of 34.7 percent.

Considering other interest incomes and expenses, ADSS made £376,583 in pre-tax profits, compared to the previous year's £197,535. That was a year-over-year jump of almost 91 percent.

"During 2021 the company saw a 34% YoY decrease in revenues (excluding Transfer Pricing) which was a result of the continued pivot from an institutional led offering to that of one centered around professional clients. No material impact was seen as a result of Brexit or COVID-19. The board remains committed to its strategy of predominantly focusing upon the retail and professional client sectors within the UK in the short to medium term,"the company stated.