London-headquartered commodities broker Marex Spectron Group Ltd, which also has a global network spanning across North America and Asia, today reported its full year earnings for the year ending December 31, 2017. The latest figures showed a strong period of growth for the group, including an uptick in key business segments, per a group announcement.
Marex Spectron disclosed its pre-tax profits for 2017 at $25.4 million, down from a figure of $27.0 million in 2016. This corresponded to a slight decrease of -6 percent year-over-year, but mostly maintaining a positive trajectory for the group’s earnings heading into 2018.
In addition, the group’s adjusted EBITDA in 2017 scored a record $39.6 million, relative to $37.1 million in 2016, or 6.7 percent higher year-over-year. This figure has steadily climbed in successive years, having spiked nearly threefold in recent years.
By extension, net revenue was reported at $245.6 million in 2017, reflective of a slight gain of nearly one percent year-over-year from $243.1 million in 2016.
The past year saw Marex Spectron solidify its position across global commodities markets, including the expansion of the its footprint across North America and Asia. The group has recently developed the metals presence in Singapore and strengthened existing European franchises.
Commenting on the results, Ian Lowitt, CEO of Marex Spectron, said: “Given how the markets played out, 2017 was a very good year for our firm. It was also a year that saw significant investment across the business, with many of the initiatives put in place set to add further revenue growth in 2018. Looking at the year ahead, our intention is to further develop our own technologies, add new services, and continue to win ever greater global market share.”
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