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Axi UK Profit Jumps 90% to $4 Million in 2024 on Higher Trading Volume

Summary by Finance Magnates | Financial and Business News

The UK subsidiary of retail CFD brokerage Axi has reported a substantial increase in both revenue and profit for the fiscal year ended June 30, 2024 (FY2024), according to the company's recently published annual financial statements.Axi Financial Services (UK) Limited, specializing in foreign exchange and contracts for difference trading, saw its turnover surge to $39 million in FY2024, representing a 42% increase from $27.50 million in the prev…

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Axi UK Revenue Jumps to $39 Million in 2024

The UK subsidiary of Australian retail CFD broker Axi revealed in its recently published annual financial statements that it also saw net profit rise 89.5% to $3.92 million, despite a decline in client money balances to $19.3 million from $21.3 million. Operating profit grew to $3.45 million, while the cost of sales nearly doubled to $19.47 million, reflecting higher market activity. Axi UK’s investment in technology was a driver of growth, wit…

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