Sucden Financial Reports 9% Revenue Drop in 2020

Sucden Financial, the global multi-asset execution, clearing and liquidity provider, has posted its financial statements for 2020, unveiling that its revenues dropped 9% to £53.9M, compared to  £59.1 million of 2019. The company was heavily struck by the restrictions due to COVID-19 and an £11.5 million write-off for bad trade debtors in 2020.

And Sucden Financial’ s net profit stood at £1.6 million in 2020, showing a dramatic decrease from £16.1 million of the previous year.

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“Our investment in technology enhancements and business development over the last year are yielding very positive results. 2021 is proving to be a much stronger year, following challenging operating conditions in 2020, and we welcome the London Metal Exchange (LME)’s announcement that it intends to reopen the ring on 6 September,” said Marc Bailey, Chief Executive Officer of Sucden Financial.

Earlier in July, Fazzaco reported Sucden Financial announced partnership​ with Refinitiv to distribute market insights and premium in-depth investment research via their Eikon platform.