CLS Sees 9.2% Growth in 2023 Revenue

Continuous Linked Settlement (CLS), a leading forex settlement and aggregation service provider, has published its financial report for the fiscal year ending on December 31, 2023, revealing a yearly revenue of £276.7 million, increasing 9.2% compared to £253.3 million in 2022.

Over the twelve-month period, CLS reported operating expenses totaling £280.1 million, a 14.4% rise compared to the expenditure of £244.9 million in the preceding year. The company experienced a loss from operations amounting to £3.4 million, a stark contrast to the profit of £8.4 million recorded in 2022.

The profit before tax for the year 2023 stood at £2.6 million, reflecting a significant 71.7% decline from the £9.2 million achieved in the prior fiscal year.

CLS's assets at the close of the year remained stable at £402.6 million, basically unchanged compared to the £402.2 million reported in the previous year. Additionally, the total equity of the company was recorded at £321.7 million at the end of 2023, marginally down from £329.0 million in 2022.

Last month, CLS announced its partnership with Barclays Bank​, offering the bank access to its Cross Currency Swaps (CCS) service.