Axi’s UK Branch Ends FY21 with £1.9m Net Profit & 46% Growth
AxiCorp Ltd, Axi’s London-based subsidiary, recently released its funds report for the fiscal year 2021. The report covered the period till June 30th and showed a whopping 46% growth. As a result, the company generated over 1.9 million pounds for business in the UK.
Moreover, the company’s turnover from clients in the United Kingdom surged by almost 130% this year. The figure reached 10.8 million pounds in the 2020-21 fiscal year, compared to 4.78 million pounds in 2019-20. After deducting the administrative costs and sales expenses, the broker noted an operating profit of 1.5 million pounds.
The figure also shows massive growth of 347% since 2020, enticing traders to look for an AxiTrader review. AxiCorp Limited also showed a 46% growth in total income, which reached 1.9 million pounds from 259,174 pounds.
The massive boom in the annual number mainly arises from a surge in customer revenue. The broker noted around 17.2 million pounds in the previous fiscal year when it was around 11.8 million pounds. The Companies House filing of Axi generated the reports, leaving no room for errors. Click here to know more about country-specific platforms like the Philippines brokers list.
Axi commenced its United Kingdom proceedings in 2014 to gain support from the subsidiary. In its official post, the company specifically stated that the numbers are restricted to AxiCorp’s UK proceedings. While the numbers accumulate to the parent company’s performance, they do not indicate its performance in other regions.
The United Kingdom filing added – The major activity of the firm during the fiscal year was the provision for direct market trading of contracts and other monetary tools. The company is also expanding its product portfolio, so users can expect the figures to grow even more.