Admirals Sees Strong Uptick in H1 Revenue and Net Profit

Fazzaco learned that Admirals (formerly known as Admiral Markets), a global retail FX and CFDs broker, has released its interim financial statements for the half year ended 30 June 2022.

The broker reported revenues of €43 million and net profit of €24 million for the half year ended June 2022, as compared to €18.4 million and €1.8 million respectively in the same period last year.

Admirals' operating expenses for the half year ended at €10 million, as compared to €10.9 million for the comparative prior period. Marketing expenses came in at €3.5 million, dropped by 25% on a YoY basis.

Moreover, the broker's EBITDA stood at €24.3 million as at 30 June 2022. Value of trades was €467 billion, increased by 9% compared to the previous year's €429 billion. By contrast, the number of trades went down 2 percent to 28.7 million.

The broker also posted the number of new clients at 33,493. In addition, the number of active decreased 15 percent to 41,227 accounts compared to 48,638 in same period of the previous year.

As Fazzaco reported earlier, Admirals has built new partnership​ with TipRanks, the leading financial big data company, to improve its traders' research capabilities. The partnership brings traders using Admirals' website and mobile app access to the analyst rating consensus and price targets of the stocks they are researching, which makes it easier for them to formulate data-driven decisions.