LandFX UK Witnesses Pre-Tax Profit's 243% Jump for Full Year 2022

LandFX UK Limited, a global forex broker authorised and regulated by the Financial Conduct Authority (FCA) and a subsidiary of LandFX Group, published its financial results for the full year ended December 31, 2022, recording the pre-tax profit of £46,516, soaring 243% compared to £13,546 in 2021.

The revenue of LandFX UK for the year came in at £823,595, up 15% compared to £711,544 in the previous year. The primary source of revenue for the company is the commissions it charged for forex and CFD trades, which are determined by the trading volumes on its platform.

The operating profit reached £49,008 for the year, jumping 240% compared £14,377 in 2021.

Net assets of the subsidiary was £471,533, 10% higher than £425,017 in the prior year.

The company's administrative expenses increased 8% from £683,224 in 2021 to £740,160, and its cost sale jumped 146% from £13,943 in 2021 to £34, 427.