After seeing its Revenues drop by 17% in 2022, things stabilized somewhat at London/Sofia based online broker Trading 212 in 2023, with the company’s Revenue up slightly (by 1%), hitting £116.2 million (USD $152 million) versus £114.9 million the previous year.
However a continued ramp-up in expenses – in particular advertising and staff costs – led to a 35% drop in Net Profit at Trading 212, from £34.2 million last year to £22.3 million in 2023.
Trading 212’s Revenue rise was helped out by a major jump in Interest Income, which increased in 2023 to £15 million versus just £0.4 million in 2022, in a higher interest rate environment. On the cost side, Trading 212 more than doubled its Advertising spend to £27.1 million in 2023 versus £13.1 million in 2022, leading…
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