Z.COM Trade UK Ltd., the FCA regulated UK trading arm of Japan retail Fx giant, GMO Click has published its financial statement for the fiscal year ending on December 2017. The figures published are reported for 9 months as the company has changed its year-end date from 31st March to 31st December. During the period the company has reported a healthy uptick in turnover with revenues almost tripled in its first full year of operation.
For the year ending on 31st December 2017, Z.COM’s turnover surged to $1.9 million (GBP 1.37 million) compared to mere $570,265 (GBP 406,542) in the year prior– a growth of 236 percent year-over-year, largest ever recorded growth. The company sustained losses of tune to $615,000 (GBP 438,000) during the period due to the cost related to start-ups. But, the company managed to restrict it losses by over 76 percent during the period from $2.6 million (GBP 1.84 million) in previous fiscal.
The company managed to bring down its Administrative expenses reporting $2.5 million (GBP 1.8 million) in expenses compared to $3.2 million (GBP 2.6 million), a decrease of 20 percent over the year. Z.COM provides its services through the MT4 trading platform offering foreign exchange, contracts-for-difference (CFDs), and spread betting services.
Since setting up of UK unit, GMO Click has invested over £11 million capital in the business including £2 million invested by its parent firm GMO Financial Holdings. The company focuses its operation in UK region which is its core region and also other European nations and China. The change in fiscal year period by GMO was aimed at aligning the Japanese company’s financial accounting and fiscal policies with global peers and also ensuring uniformity in collection of data and analysis of operational data from its other foreign subsidiaries.
In a statement to Leaprate, CEO of GMO-Z.com Trade UK Limited, Masahiro Funada commented:
“During this past year we have invested in upgrading our technology and internal capacity to enable us to expand our services across the European and global market, and better leverage the resources we have access to from the world’s largest retail forex provider, GMO CLICK. We have seen a lot of interest in particular on the institutional side of the business, and look forward to expanding GMO CLICK liquidity to a wider global audience, from our liquidity hubs in London and Tokyo.”
