Tradeslide Trading Tech Limited, the company behind the Darwinex brand in the UK, has reported its financial results for 2023, showcasing a substantial increase in profit even as revenue declined. The firm’s equity rose by 29% compared to the previous reporting period, which spanned 18 months and ended in December 2022.
Profit Growth and Capital Strengthening
Despite a 45% drop in operating profit, from €466,812 to €252,566, Tradeslide’s overall profit grew by 54%, rising from €377,000 to €582,000. The company credited this improvement to enhanced gross profit and optimized cost management. “The company has significantly improved gross profit in comparison with the last 12-month period, as well as optimized its fixed cost base. Profitability enabled the company to shore up its capital position throughout 2023,” Tradeslide stated in the report.
However, revenue took a hit, with turnover falling from €9.6 million to €7 million and gross profit declining from €7.8 million to €5.3 million. Despite the dip in revenue, the firm maintained stability in its capital and debt positions and emphasized its commitment to reinvesting incremental revenue for business growth.
Partnerships and Expansion Efforts
One notable highlight for Tradeslide in 2023 was the implementation of its partnership with Interactive Brokers (IBKR). Through this partnership, Tradeslide integrated its technology with IBKR, enabling it to expand its customer base and offer Darwinex users access to a wider range of financial products, including shares, futures, and exchange-traded funds.
Additionally, Tradeslide continues to explore new market opportunities to further broaden its services, signaling its ongoing commitment to growth and expansion.
Previous Year’s Performance
In its 2022 financial report, Tradeslide revealed a 70% surge in profit, with the figure jumping from €225,000 to €377,000. The firm also experienced significant growth in gross profit, reaching over €7 million, up from €4 million, while turnover soared from €5 million to €9 million.
Throughout this period, the company highlighted the stability of funds held by its traders and underscored its successful integration with the U.S.-based electronic trading platform Interactive Brokers, which has provided Darwinex users with access to a broader range of trading instruments.
