Eightcap’s UK Unit Earns 70% of Revenue in Continental Europe as Profit Falls
By Damian Chmiel
AI summary of the source article
Eightcap's UK unit generated 70.5% of its £4.49 million revenue from continental Europe in the year to June 30. Meanwhile, annual pre-tax profit fell to £164,833 as cost of sales surged to £2.47 million.
Key facts
- Eightcap Group Ltd booked £3.17 million of its £4.49 million total revenue from continental Europe, while UK clients contributed £178,126.
- Annual profit before tax dropped to £164,833 from £510,688 as cost of sales increased to £2.47 million from £718,324.
- Will Hardy was appointed as a director following the departure of former chief executive Ollie Rosewell.
Source excerpt · Finance Magnates
Eightcap's UK broker made 70.5% of its revenue from clients in continental Europe, according to accounts filed with Companies House today (Tuesday). Its annual profit before tax fell to £164,833 from £510,688 in the previous reporting period, which ran for 16 months. Eightcap Group Ltd is the London unit of Melbourne-based Eightcap and is regulated by the Financial Conduct Authority (FCA). In the…