BidX Markets' Turnover Triples in FY2023

BidX Markets, a global FCA regulated multi-asset liquidity solutions provider, has experienced a strong growth in its second full year of operation in FY2023 (year ended May 31, 2023), with its turnover more than tripling from FY2022​, according to its regulatory filings.

The company generated £1.05 million in FY2023, compared to £297K in FY2022. Net profit for the year came in at £73K, a surge of 66 percent from the previous year's £44K. Gross profit increased significantly, from £230K to £944K.

Profit for the financial period, however, stood at £29K, down from £33K in FY2022. Total equity reached £1 million, increasing from £244K in the prior year.

The management of the company stated in the filings that the development was inline with the Board's expectations. Besides, looking ahead, BidX Markets plans to seek opportunities for expansion, both in  the UK and overseas.