Gain Capital UK Sees Significant Jump in Net Profit in 2020

Gain Capital UK Limited, a subsidiary of StoneX Group, has published its annual report and financial statements for the year ended December 31, 2020. The company saw a substantial jump in net profit as the number touched £32.5 million in 2020. In the previous year, this figure came in at a loss of £11.4 million.

According to the report, the total turnover climbed to £90 million in the 12 months from £16.4 million generated in the previous year. And the gross profit for the period reached £74.6 million, which is much higher than previous year's £9.07 million.

In addition, the operating profit of the UK broker increased to £47.5 million. In the previous fiscal year, this figure came in at a loss of £14.4 million. The UK company ended 2020 with a gross profit margin of 83 percent, improving from the previous year's 55 percent.

"Conditions in 2020 were the opposite to 2019, a year of prolonged muted volatility," the company said. "The global Coronavirus pandemic saw significant volatility across financial markets globally, driving the company's key metrics to record highs, including client acquisition, active clients and trading volumes."

GAIN Capital has generated $71.2 million of StoneX's $471.4 million of revenue in the company's latest financial quarter (StoneX Q2 2021) to March 31, 2021.