GMI UK Posts Profit of £166,869 in 2020

Global Market Index Limited (GMI UK), an FCA-regulated provider of liquidity solution to professionals and institutions, has unveiled its financial results for the fiscal year ending December 31, 2019. GMI posted a profit of £166,869 in 2020, compared to a loss of £126,878 in 2019.

According to the GMI's official filing, the annual revenue of the company for 2020 dropped by 28.3 percent year-on-year to £931,776. This figure for the previous year was £1.37 million.The company saw a drop in consultancy income during the last year.

In 2020, GMI recorded administration expenses of £749,868 compared to the previous year's £1.5 million, meaning there was a significant year-on-year drop of 50 percent.

GMI mentioned in the official filing, "GMI UK has well-organized operations with significant cash buffer to fund ongoing operations in the event of a marked downturn in business activity levels as a result of the coronavirus pandemic or any other significant event. At the time of writing, the company has cash balances sufficient to fund well in excess of two years' operating expenses. The directors have the ability to control monthly expenditure due to the nature of the costs." 

Fazzaco yesterday reported that GMI has parted ways with Chris Hossain-Nelso​n, who was most recently Executive Director, Head of eFX and CFDs Client Relations.