Monex Europe Holdings Discloses £9.98M Net Profit in 2022

Commercial foreign exchange specialist Monex Europe Holdings, which provides currency exchange and international payments to corporate and institutional clients, saw a strong year in 2022, with its net trading income enjoying a significant increase.

The company has generated £79.68 million net trading income for 2022, 46 percent higher over 2021's £54.28 million.

The gross profit, therefore, came in at £76.27 million, with a net profit of around £9.98 million. Besides, although the administrative costs rose 23 percent to £70 million, they did not consume all the revenue.

In 2021, however, Monex Europe Holdings​ incurred a loss of £3.45 million.

"2022 proved to be a stronger year in the financial service sector, throughout the European Union, North America, and Asia, as the sectors showed signs of recovery from the COVID-19 pandemic and Brexit. As a result, the group generated a profit," said the company in the Company House filing.