Sucden Financial announces lower revenue for fiscal year 2020

Foreign exchange broker and liquidity provider Sucden Financial has released its financial statements for the year ending December 30, 2020. The UK-listed group failed to match last year’s performance metrics, having suffered from lower revenues and higher expenses for fiscal 2020.

In the prior financial year, Sucden Financial saw its operating income fall to £53.9m from £59m a year ago, a 9% year-on-year decline. the other.

In terms of operating expenses, the figure rose to £52m in financial year 2020, up 13% from £46m in 2019.

Sucden Financial recorded an operating loss of £2.45 million, compared to a profit of £8.1 million the previous year. However, other earnings measures show the company managed to make a pre-tax profit of £1.56m, but the figure is well below the £19.7m it earned in 2019 .

Founded in 1973, Sucden Financial is a derivatives broker operating in a wide range of markets, including stock and over-the-counter futures and options, stocks and currencies. Sucden Financial is part of Sucres & Denrées, which is present in more than 30 locations worldwide.

The liquidity provider has recently signed several partnership agreements to expand the scope of its services. The company is now part of the growing list of LPs that can be searched and contacted on Liquidity Finder, allowing professional investors or business ventures to make side-by-side comparisons when selecting their liquidity partners.

Sucden Financial has also partnered with Refinitiv to deliver market intelligence and in-depth investment research through their Eikon platform.

Recently, the company announced several new hires in an effort to expand its customer base.

Mike Wilkins, who served as head of foreign exchange trading for Europe, Africa, Middle East and Asia at StoneX, has joined the company as global head of foreign exchange sales. Alongside other notable recruits including Toby Warner, Ian Steadman and Steven Robinson, the team will continue to promote the firm’s range of FX services. Sucden’s FX catalog includes spot, futures, swaps, OTC options, NDOs, NDFs, deliverable currencies as well as third party credit intermediation, direct access to ECN, currency clearing and liquidity.

Marianne R. Winn