LONDON, ENGLAND--(Marketwire - Jan. 18, 2013) - Foreign exchange (FX) and payments services provider Cambridge Mercantile Exchange UK is pleased to announce that it outperformed 144 other FX companies and posted profits that led the UK in 2011-2012.
Cambridge, which opened in London in 2005, was designated by Plimsoll Talat, which tracks FX companies, as the fastest growing FX company in the U.K. with a pre-tax profit increase of 1,580 percent. Much of this increase was created by its vaulting to its first positive return during the year. Cambridge expects to show a profit increase of 70 percent in 2012-2013.
For the first time, Cambridge registered more than pounds 1,084,879,000 of FX Turnover for the year ending February 29th, 2012, resulting in its listing as one of the top 50 companies in the UK in "sales return on assets" and among the top 50 "cash-rich" companies.
Mr. David Clark, Managing Director, Europe, who took over the company in 2011, credited much of the turnaround to execution of key sales and marketing initiatives. This included a market shift to mid-to-large corporate clients, a greater focus on selling its online solution, a larger sales force, and in particular, a change in its positioning from "price-based" to "valued-based" selling proposition.
"Moving forward, I see a handful of serious competitors growing by 10 to 15 percent in the coming year," he said. "Smaller companies are flat or in reverse. I see our performance as even more remarkable, considering the state of the European economy."
About Cambridge Mercantile Group
Since its inception in 1992, Cambridge Mercantile has been earning the trust and respect of leading companies around the world by providing efficient and customizable global payment services that are second to none. Recently, Cambridge's traditional business model has been complimented with an extensive suite of hedging and risk management products, powered by payments technologies widely regarded as industry leading. With offices strategically located across the globe, Cambridge facilitates the secure and prompt movement of over $20 billion dollars annually for thousands of clients of all sizes and niches. For more information, visit www.cambridgefx.com.