IS Prime Reports Annual Turnover of £37.9 Million in FY 2021

ISAM Capital Markets Group's subsidiary IS Prime has published its financials for the year ending on June 30, 2021. According to the company, it's revenue for the year reached £37.9 million, up from £36.1 million in its previous fiscal year end in March 2020.

IS Prime also reported an increase in Net Assets from £10.7 million to £18.8 million by retaining the period's profits. Operating profit took a hit as it came in at £10.1 million, which is down from the previous year's £17.6 million. The company cited increased expenditure on its people, technology and a larger London office behind the sump in profit.

"We have taken the opportunity to invest in our business over the course of the pandemic and, despite the challenges of operating in this environment and of an increasingly competitive market, we have continued to grow the business and have laid the foundations for continued growth in the post COVID world. Due to this, our staff and office costs have increased substantially,"said Raj Sitlani, the Managing Director of ISAM Capital Markets.

"With our new office, our exceptional team, significant investment in technology and a growing and diversified client base, we believe we are in a strong position for continued growth. We also have plans in place to broaden our offering with a range of new products for brokers, fund and asset managers. This will reinforce our position as a global market leading Prime of Prime."