ATFX UK,
the London-based subsidiary of global brokerage group, ATFX Group, saw a
massive jump in its profit during the recent fiscal year that ended in October
2022. The profit climbed by 273% to £838, 189, which is up from £224,558 in the
prior year.
At Global
Markets (UK) Limited, operator of the UK forex and contracts for difference
trading (CFD) provider, disclosed the figures in the latest financial statement
filed with the UK Companies House.
The report also shows that the subsidiary’s revenue increased by 7.6%
year-over-year from £2.9 million to £3.2 million.
In
addition, ATFX UK’s net asset, which measures its financial health, grew by
12.8% to £7.4 million, which is up from £6.6 million from the previous fiscal
year. The net asset includes cash balances of £4.3 million, the trading company
noted.
As a result
of these figures, ATFX UK said it has “a strong balance sheet and is
well placed to achieve its long-term strategy.” The company pledged to keep marketing its business directly in the European Economic Area and other
international territories where it is authorized.
“The key
targets will be the existing high net worth clients, fund managers, brokers and
banks who are looking to diversify their portfolio and are comfortable with the
risk profile and volatility that investing and trading in derivatives can
offer,” ATFX UK stated in the financial report.
ATFX UK,
the London-based subsidiary of global brokerage group, ATFX Group, saw a
massive jump in its profit during the recent fiscal year that ended in October
2022. The profit climbed by 273% to £838, 189, which is up from £224,558 in the
prior year.
At Global
Markets (UK) Limited, operator of the UK forex and contracts for difference
trading (CFD) provider, disclosed the figures in the latest financial statement
filed with the UK Companies House.
The report also shows that the subsidiary’s revenue increased by 7.6%
year-over-year from £2.9 million to £3.2 million.
In
addition, ATFX UK’s net asset, which measures its financial health, grew by
12.8% to £7.4 million, which is up from £6.6 million from the previous fiscal
year. The net asset includes cash balances of £4.3 million, the trading company
noted.
As a result
of these figures, ATFX UK said it has “a strong balance sheet and is
well placed to achieve its long-term strategy.” The company pledged to keep marketing its business directly in the European Economic Area and other
international territories where it is authorized.
“The key
targets will be the existing high net worth clients, fund managers, brokers and
banks who are looking to diversify their portfolio and are comfortable with the
risk profile and volatility that investing and trading in derivatives can
offer,” ATFX UK stated in the financial report.
