Marex Group recorded records in the first half as a strong growth in its agency, implementation and clearance of departments that led to an increase of two numbers in revenue and profit.
The financial services platform was reported that H1 revenues amounted to 967.4 million dollars, an increase of 23 % over the previous year, while the amended profits before the tax increased by 27 % to 202.7 million dollars.
The profit was reported before the tax jumped by 45 % to 201.6 million dollars. The average PBT margin improved to 21.0 % from 20.2 % a year ago.
The second -quarter revenue increased by 18 % on an annual basis to $ 500.1 million, with PBT increased by 16 % to $ 106.4 million.
The agency’s revenues increased by 59 % to 260.8 million dollars, with the support of strong securities trading, expanding the continuation of primary services and powerful energy markets.
Clearing revenues increased by 12 % to $ 138.8 million, supported by the volatility of the market and new customers and the acquisition of Aarna Capital.
Market manufacturing revenues decreased by 17 % to $ 57.4 million, which reflects low mineral circulation compared to the exceptional previous year, while hedge and investment solutions decreased by 9 % amid temporary slowdown in client hedge activity.
CEO Ian Luette said the results “verifying the validity of our strategy and our implementation of that strategy,” with highlighting the success of recent acquisitions, including the main services of TD Cowen.
Marex also expanded in July with the acquisitions of the Hamilton Court group specialized in Brazil, and announced plans to buy Winterflood Securities for the UK stock market.
The company announced the distribution of Q2 profits of $ 0.15 per share and maintained a strong return on property rights by 28 % in the quarter.