INFINOX Capital Limited, the London based, FCA regulated arm of global online brokerage INFINOX, has released its financial results for FY 2024 (March 31 fiscal year end), indicating a return to profitability for the company as it shifts its focus to institutional business.
Revenues for INFINOX Capital came in at £3.7 million in FY 2024, down from £14.6 million last year as the company decided to close its retail operations in the UK to pursue institutional business under the IXO Prime brand. That decision led to a reduction of client assets under management of 65% and a revenue reduction of 75%. However these decisions have allowed profits to increase significantly, as the company held a strong position within the industry.
Net profit at INFINOX Capital came in…
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