iS Prime reports £35m turnover, £16.2 million pre-tax profits, £37 cash balances
“We have plans in place to evolve the business over the next year, driving further growth for both iS Prime and for our clients.”
iS Prime, part of iSAM Securities, has submitted its 2022 financial results (y/e June 2022), reporting a turnover of £35 million and pre-tax profits of £16.2 million.
Last year’s accounts for the London-headquartered, FCA-regulated firm reported on a 15-month period and therefore like-for-like comparisons cannot be made, the firm stated, while offering a comparison to a similar 12 month period: iS Prime’s y/e 2022 figures show an increase in revenues of £3.5 million, a year on year increase of 11%. The firm’s balance sheet remains strong, with cash balances of just under £37 million.
iS Prime revenues up by 11% on a similar 12-month period
Alex Lowe, Managing Director, iSAM said, “iS Prime’s financials reveal another very successful year, with our revenue increase resulting from a combination of higher volumes and client acquisition. We continue to invest in our people and products in order to maintain our position as a global market leader, with a focus on transparency, integrity, and a client-centric approach. We have plans in place to evolve the business over the next year, driving further growth for both iS Prime and for our clients.”
iS Prime Limited offers full service brokerage and execution via its proprietary technology that includes aggregated pricing sourced primarily from Tier One institutions, settled through the group’s bank Prime Brokers.
Parent company iSAM Securities also includes iS Prime Hong Kong Limited (regulated by the SFC) and risk management specialist, iS Risk.
2023 is the first year iS Prime operates without the leadership of co-founders Raj Sitlani and Jonathan Brewer, who left the FX brokerage business. At the time of departure, Roy Sher, Managing Director of iSAM, praised the founding members, but reminded clients that it’s still business as usual. Additionally, iSAM Securities intends to increase investment in technology and staff, putting clients first as the firm goes forward to maintain a market leadership position.
