30th Jun 2023 11:53
Record PLC - Berkshire, England-based currency and derivatives manager - Posts revenue of GBP44.7 million for financial year that ended on March 31, up 27% from GBP35.1 million the year before. Says the increase is driven by growth in both management and performances fees linked to "core currency management products", with new revenue streams from the launch of asset management products expected for financial 2024. Pretax profit rises 34% to GBP14.6 million from GBP10.9 million, as operating profit increases to GBP14.5 million from GBP10.8 million the year before. Performance fees rise to GBP5.8 million from just GBP500,000 the year before. Looking ahead, Record says it still sees a "clear path" to its target of GBP60 million in annual revenue by financial 2025 with a 40% operating profit margin, up from 32% in the recent year. Read More
