Capital, which is regulated by the Financial Conduct Authority (FCA), has reduced direct costs as revenue has nearly doubled..Com UK branch net profit of 4.13 million pounds in 2022。An increase of 123% compared to £1.85m in the previous year。

Capital.Com strong revenue last year

According to a recent report, Capital.Capital, a subsidiary of the com Group responsible for the UK business..com UK earned £22.11m, almost doubling from £15.45m the previous year。The company's operating profit was £5.42 million, up more than £3 million from £2.38 million in 2021.。As a result, the final net profit after tax was £4.13 million.。

According to the report, Capital.The value of customer funds held by com in the UK fell slightly year-on-year.。In 2021, the value of client funds is £20.1m.。By the end of 2022, this figure has shrunk by almost £2 million to £18.4 million.。

Overall, 2022 will be a good year for Capital.com and its new CEO Peter Hetherington。He took over from Jon Squires in May last year.。Previously, Hetherington had been CEO of London-listed broker IG Group for more than three years.。

Hetherington said in May: "Something special has brought me back into the industry and I'm excited to join a company with such a unique positioning.。"

Capital.com scale through recruitment and acquisition

Hetherington is not Capital.com the only personnel changes in recent months。The broker reportedly recently hired Sheena Kanabar as Group Chief Compliance Officer (CCO).。Based in London, Kanabar oversees the global compliance team and ensures that the company complies with all regulatory standards。

"We are pleased to welcome Sheena to our leadership team.。In addition to working closely with global regulators and fostering a strong compliance culture across the organization, Sheena's expertise will help us drive business growth to the highest regulatory standards。"Hetherington said。

Earlier this year, the company appointed Niamh Byrne, the former head of the UK and Ireland region of IG Group.。Byrne joins Capital after 14 years at IG Group.com, and finally head of B2B2C sales in the UK。

In other ways, London-based Capital.com has started acquiring client assets of Forex and CFD broker OvalX。The terms of the deal will allow some existing OvalX retail and professional customers to move their accounts to Capital, according to a joint statement..com to ensure uninterrupted service。