LONDON, UK: Aquis Exchange PLC (AQX.L), a pioneering force in the development of next-generation financial markets, has released its audited financial results for the fiscal year ending December 31, 2023. The company has reported a commendable increase in net revenue and profits, attributing its success to a diversified portfolio and strategic market expansions.
Financial Performance Highlights
For FY23, Aquis Exchange PLC’s net revenue surged to £22.7 million, marking a 13% increase from the previous year’s £20.1 million. The company’s pre-tax profit also saw a significant rise, reaching £5.2 million, up by 15% from FY22’s £4.5 million. Basic earnings per share (EPS) grew in tandem, registering a 13% increase to 19.4p.
The firm’s cash position remained robust, with cash and cash equivalents totaling £14.8 million, a modest 4% improvement over the previous year.
Divisional Revenue Breakdown
- Markets Division: Achieved a 7% growth, with revenues climbing to £10.9 million.
- Technologies Division: Led the charge with a remarkable 22% growth, bringing in £6.3 million.
- Data Division: Continued its upward trajectory, with a 24% increase in revenues, amounting to £3.7 million.
- Aquis Stock Exchange: Contributed £1.8 million, an 8% increase, reinforcing its position as a leading growth exchange.
Operational Milestones
Aquis Exchange’s operational achievements have been particularly noteworthy, given the challenging market conditions faced over the past year. The company’s market division experienced a significant boost in market share, which rose to 4.97% in December 2023, following a pivotal change to its proprietary trading rule in November. This upward trend continued post-period, with market shares averaging 5.3% in January 2024 and further climbing to 5.46% in February.
The Technologies Division secured two new contracts, including a prestigious agreement with a central bank, and progressed an existing contract to the exchange delivery stage. This division now boasts nine contracts, seven of which have generated recognized revenue.
Aquis Data has made significant strides towards the development of a consolidated tape, with revenues reaching £3.7 million for the year.
Lastly, the Aquis Stock Exchange has solidified its reputation as a hub for growth, admitting 16 new companies in 2023, the highest number for any UK growth exchange for the second consecutive year.
Aquis Exchange PLC’s performance is a testament to its strategic vision and adaptability, positioning the company as a leader in the evolution of financial markets.
Alasdair Haynes, CEO, Aquis Exchange PLC said: “I am really pleased to announce that the Aquis Group has continued to deliver a strong performance with double digit revenue and profit growth across all divisions, despite some of the most challenging market and economic conditions we have ever seen, which have continued into the first quarter of 2024.
“This makes it all the more noteworthy that Aquis was able to deliver growth across all its divisions, with significant progress made on a number of strategic initiatives, including an increase in the pan-European market share of our Aquis Markets division, and a significant Technology contract secured with a central bank.
“Aquis has a proven track record of growth since our IPO in 2018, and we’re more excited than ever about the opportunities ahead for all of our divisions: from the global reach of our leading technology to the strength of our market share, and the disproportionate upside for Aquis as the UK and EU head towards a consolidated tape. Supporting this confidence is our strong cash position, which enables us to grow and innovate further in coming years.”
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