LandFX UK Limited, the FCA-regulated subsidiary of LandFX
Group, released its full-year financial results for the year ended 31 December
2022, reporting a 243% increase in pre-tax profit. The figure shot up to £46,516, from £13,546 2021.
The broker reported a 15% increase in revenue for the
period, with the figure rising to £823,595 from £711,544 in the previous year. LandFX UK’s revenue mainly
comes from the commissions charged on forex and CFDs trading and is based on
the volumes of trades on its platform.
Compared
to last year, the company’s
administrative expenses increased 8% to £740,160, which is up from £683,224. Additionally, LandFX UK’s cost of sale
increased to £34, 427 from £13,943 during the corresponding prior period. This
represents an increase of 146%.
In 2022, the
broker’s operating profit increased to £49,008, which is a 240% year-over-year gain
compared to the £14,377 reported in 2021.
Besides the increase
in revenue and operating profit,
the private company, limited by shares and incorporated in England and Wales,
also expanded its balance sheet during the period, with net assets increasing by 10% from
£425,017 to £471,533.
Institutional Liquidity for Forex and CFDs
LandFX UK was licensed in 2016 by the Financial Conduct
Authority (FCA). The company offers institutional liquidity for forex and CFDs,
including spot metals, spot oils, indices, and commodities, according its website.
In a previous filing
with the British watchdog, LandFX UK said the company was continuing its expansion in
the European and non-European markets through online and offline marketing
campaigns.
In 2017, LandFX UK launched collaboration with top-tier
banks and non-banking liquidity providers and started getting access to feeds from Citi, Barclays, Morgan Stanley, JPMorgan, and Goldman Sachs, among others. The company mainly focuses on enhancing spreads, quality execution, global locations, and transparency of executions.
UK bank taps Integral; StoneX’s prime brokerage; read today’s news nuggets.
LandFX UK Limited, the FCA-regulated subsidiary of LandFX
Group, released its full-year financial results for the year ended 31 December
2022, reporting a 243% increase in pre-tax profit. The figure shot up to £46,516, from £13,546 2021.
The broker reported a 15% increase in revenue for the
period, with the figure rising to £823,595 from £711,544 in the previous year. LandFX UK’s revenue mainly
comes from the commissions charged on forex and CFDs trading and is based on
the volumes of trades on its platform.
Compared
to last year, the company’s
administrative expenses increased 8% to £740,160, which is up from £683,224. Additionally, LandFX UK’s cost of sale
increased to £34, 427 from £13,943 during the corresponding prior period. This
represents an increase of 146%.
In 2022, the
broker’s operating profit increased to £49,008, which is a 240% year-over-year gain
compared to the £14,377 reported in 2021.
Besides the increase
in revenue and operating profit,
the private company, limited by shares and incorporated in England and Wales,
also expanded its balance sheet during the period, with net assets increasing by 10% from
£425,017 to £471,533.
Institutional Liquidity for Forex and CFDs
LandFX UK was licensed in 2016 by the Financial Conduct
Authority (FCA). The company offers institutional liquidity for forex and CFDs,
including spot metals, spot oils, indices, and commodities, according its website.
In a previous filing
with the British watchdog, LandFX UK said the company was continuing its expansion in
the European and non-European markets through online and offline marketing
campaigns.
In 2017, LandFX UK launched collaboration with top-tier
banks and non-banking liquidity providers and started getting access to feeds from Citi, Barclays, Morgan Stanley, JPMorgan, and Goldman Sachs, among others. The company mainly focuses on enhancing spreads, quality execution, global locations, and transparency of executions.
UK bank taps Integral; StoneX’s prime brokerage; read today’s news nuggets.
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- Source: https://www.financemagnates.com//institutional-forex/landfx-uks-profit-soars-in-2022-with-significant-revenue-increase/
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