Tuesday 5 September 2017 – IS Prime has announced impressive results for year ending 31 March 2017, with a threefold increase in revenue and a 900% increase in operating profit.
· Operating profit £8,956,324 - compared to £994,000 year end 2016
· Turnover £16,647,992 - compared to £5,968,593 for previous year
· Net assets £9,754,319 - compared to £2,403,886 for previous year
Jonathan Brewer, Managing Partner at IS Prime comments, “We are very proud of this fantastic achievement which we believe cements our position as a global market leader in the Prime of Prime industry. When you look at our financial results in comparison to our peers, I believe we are the fastest growing Prime of Prime and an increasingly dominant and respected participant.
“We have now paid back the £3 million loan for the initial seed capital to our major shareholder, International Standard Asset Management (ISAM), and have cleared all outstanding debt.”
IS Prime’s growth has been organic, largely driven by a significant increase in volumes as a result of growing their client base. They have been particularly successful in attracting new clients in Australia and Europe and anticipate future growth in Asia following the launch of the Hong Kong office earlier this year.
Raj Sitlani, Managing Partner at IS Prime adds, “IS Prime began trading in 2015 and for the first two years of the business, Jonathan and I focused on establishing the organisation and developing our offering. Our financial results for Year End 31 March 2017 reflect our first full year as a mature business and we have exceeded all our growth targets whilst also achieving nearly 100% client retention over the last three years. We have a very talented team, an unrivalled breadth of service offering and exceptional quant and technological resources - and I believe these factors really set us apart from our competitors in the industry.
“Moving forward, we have ambitious plans for the business and are continuing to grow at a significant rate. IS Prime is already exceeding last year’s growth for Q1 and we are confident of double digit growth over the course of the year.”
IS Prime delivers a premium suite of products to an institutional client base. Products include aggregated traditional and non-traditional liquidity in FX, bullion, indices and commodities, prime of prime capabilities, risk management consultancy and bespoke auto-hedging services. For further information, please visit www.isprimefx.com
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