Spreadex Sees Increase in Profits and Revenue in FY2021

Spreadex, a UK-based financial spread betting platform, has filed its annual financial report ending on May 31, 2021. According to the report, the company saw strong growth in its total turnover and profit throughout the year.

The total turnover of the UK-based company reached £69.2 million, an increase of almost 41 percent from the previous year's £49.05 million. The net profit of the company also jumped 49.5 percent to £28.5 million from £19.05 million in the previous year.

As of the end of May this year, net assets for the spread betting company was £85.8 million. This was an increase of 4 percent from the same period last year.

Before taxation, profit for the year was £35.1 million, whereas the profit for the year after taxation was £28.5 million. Both of the two have increased 50 percent compared to the same period last year.

“31st May 2021 marked the end of Spreadex’s 21st full financial year. It has been a record year at both revenue and pre-tax profit levels. The company has seen strong growth in some of its key performance indicators of bet numbers and active clients,”Spreadex stated.

Earlier this year, Spreadex has become the principal front of shirt partner with Burnley Football Club​.