IS Prime has reported strong growth for the sixth consecutive year, with a 30 per cent increase in turnover y/e 31 March 2020.
Reported figures from the London-headquartered FCA regulated Prime of Prime broker show a rise from GBP27.6 million y/e 2019 to GBP36 million y/e 2020.
IS Prime’s operating profit almost tripled from GBP5.9 million to GBP17.6 million, which is largely attributed to client growth combined with increased efficiencies from its highly scalable proprietary systems. Net assets for y/e 20 remained at GBP10.7 million.
IS Prime, founded in 2014, is part of the ISAM Capital Markets Group, which also includes IS Prime Hong Kong and IS Risk Analytics. Figures for ISAM Capital Markets have not been disclosed.
Raj Sitlani, Managing Director, ISAM Capital Markets, says: “Our financials confirm IS Prime’s position as a global market leader in our industry and we are very pleased to report yet another year of record revenues. We have achieved significant growth outside the UK, virtually doubling our turnover in the rest of Europe. We have also seen major growth in Asia and the Middle East as well as diversification of our client base across the banking, asset management and hedge fund space.
“We have continued to invest in our exceptionally talented team and our proprietary technology, ensuring that IS Prime delivers a high calibre, broad and competitive service offering to clients.
“We cannot make direct comparisons with financial results from our first few years as we restructured in 2017 to become part of ISAM Capital Markets, with some of our products and services subsequently accounted for in other businesses within the group. ISAM Capital Markets has also achieved significant growth in risk management services and technology services, with IS Risk Analytics and IS Prime Hong Kong both having yet another outstanding year.”
