FNG Exclusive… FNG has learned via regulatory filings that FCA licensed institutional broker YCM Invest saw its Revenues drop by more than two-thirds in 2022, as the company rebranded from Finotec to its new name, YCM Invest. (The group’s corporate name was similarly changed, from Finotec Trading UK Limited to YCM-Invest Ltd.)
Revenues at YCM Invest came in at just £767,220 in 2022, versus £2.3 million the previous year, when the company was still known as Finotec. YCM Invest posted a Net Loss of £0.1 million for 2022, versus a Net Profit of £343K in 2021.
On a cash-flow basis YCM Invest saw a £3.5 million Operating Activities cash outflow in 2022. As a result, the company’s Cash levels fell from £4.15 million as at year-end 2021 to just £581,332 in 2022.
