AFTX UK, part of the global brokerage group AFTX Group experienced a significant surge in profit for the fiscal year ending in October 2022. The profit soared by 273% to £838,189, a substantial increase from the prior year’s £224,558.
The financial statement of the London-based subsidiary of global brokerage group filed with the UK Companies House revealed a 7.6% year-over-year revenue growth for the subsidiary, rising from £2.9 million to £3.2 million.
Furthermore, ATFX UK’s net asset, a measure of its financial health, increased by 12.8% to £7.4 million compared to the previous fiscal year’s £6.6 million. The net asset includes cash balances of £4.3 million, according to the trading company’s disclosure.
With these financial results, ATFX UK expressed confidence in its strong balance sheet and its ability to achieve long-term strategic goals. The company pledged to continue direct marketing efforts in the European Economic Area and other authorized international territories.
The company stated in the report that its primary focus will be on current high net worth clients, fund managers, brokers, and banks seeking portfolio diversification and being at ease with the risk profile and volatility associated with investing and trading in derivatives.
Earlier in July, the global CFDs broker announced strengthening its position in the Australian market with the acquisition of Rakuten Securities Australia, a subsidiary of Rakuten Securities, Inc. Prior to that, ATFX also boosted its Middle East presence with Category Five license in UAE form SCA.
