ParFX, a
wholesale electronic spot FX trading operator run by Compagnie Financière
Tradition, recently disclosed its 2022 financial figures. Although the report
indicated a modest decline in turnover from $5.84 million to $5.58 million
compared to 2021, both operating and net profits were up. Net profit for the
year after tax totaled $1.72 million.
ParFX (UK)
Limited released its financial results last week, reporting a modest decline in
turnover from $5.84 million to $5.58 million last year. However, the company
managed to reduce administrative costs, which resulted in an operating profit
of $2.13 million, up from $1.82 million.
This
allowed the firm to achieve a net profit for the whole of 2022 that was 20%
higher than the $1.47 million reported in 2021, ultimately earning $1.72
million.
“The
company continues to attract new prime clients and strengthen the platform’s
global distribution network. In addition, founder members have agreed to extend
the minimum brokerage fee for another twelve months, stabilizing further the
revenue run rate,” the company commented in the official filing.
ParFX aims
to continue expanding its global distribution network this year and in the
coming years. It also plans to grow its FX electronic trading community as part
of the Tradition brand. Compagnie
Financière Tradition published its own 2022 results much earlier, back in March
2023. According to the report, the company achieved a net profit of CHF 89.1
million, which was 40.3% higher in constant currencies and 36.5 percent higher
in current currencies
A Mixed Financial Season
for UK Companies
As the
deadline for submitting 2022 financial reports approaches, numerous financial
sector companies, including those in the FX industry, have disclosed their
results. Many have shown rising revenues but declining profits or no
profitability at all. ParFX appears to be an exception in this pattern.
Other
companies like Trading Point of Financial Instruments UK Limited reported a net
loss of £1.09 million in 2021 despite higher revenues. FxPro revealed an
increase in revenue but a deepening net loss of £614,558 for 2022.
Beeks
Financial Cloud Group plc also showed a 22% increase in revenue and a 23% rise
in Annualized Committed Monthly Recurring Revenue (ACMRR) but posted an
operating loss of £331,000. Hantec Markets’ UK branch reported a 7% increase in
revenue to £5.76 million but failed to maintain profitability, posting a net
loss of £83,968 for the reported period.
ParFX, a
wholesale electronic spot FX trading operator run by Compagnie Financière
Tradition, recently disclosed its 2022 financial figures. Although the report
indicated a modest decline in turnover from $5.84 million to $5.58 million
compared to 2021, both operating and net profits were up. Net profit for the
year after tax totaled $1.72 million.
ParFX (UK)
Limited released its financial results last week, reporting a modest decline in
turnover from $5.84 million to $5.58 million last year. However, the company
managed to reduce administrative costs, which resulted in an operating profit
of $2.13 million, up from $1.82 million.
This
allowed the firm to achieve a net profit for the whole of 2022 that was 20%
higher than the $1.47 million reported in 2021, ultimately earning $1.72
million.
“The
company continues to attract new prime clients and strengthen the platform’s
global distribution network. In addition, founder members have agreed to extend
the minimum brokerage fee for another twelve months, stabilizing further the
revenue run rate,” the company commented in the official filing.
ParFX aims
to continue expanding its global distribution network this year and in the
coming years. It also plans to grow its FX electronic trading community as part
of the Tradition brand. Compagnie
Financière Tradition published its own 2022 results much earlier, back in March
2023. According to the report, the company achieved a net profit of CHF 89.1
million, which was 40.3% higher in constant currencies and 36.5 percent higher
in current currencies
A Mixed Financial Season
for UK Companies
As the
deadline for submitting 2022 financial reports approaches, numerous financial
sector companies, including those in the FX industry, have disclosed their
results. Many have shown rising revenues but declining profits or no
profitability at all. ParFX appears to be an exception in this pattern.
Other
companies like Trading Point of Financial Instruments UK Limited reported a net
loss of £1.09 million in 2021 despite higher revenues. FxPro revealed an
increase in revenue but a deepening net loss of £614,558 for 2022.
Beeks
Financial Cloud Group plc also showed a 22% increase in revenue and a 23% rise
in Annualized Committed Monthly Recurring Revenue (ACMRR) but posted an
operating loss of £331,000. Hantec Markets’ UK branch reported a 7% increase in
revenue to £5.76 million but failed to maintain profitability, posting a net
loss of £83,968 for the reported period.
