Spreadex Witnesses 25% Jump in Turnover for FY23

Fazzaco learned that Spreadex, a UK-based financial spread betting and sports betting firm, has delivered a strong year for the financial year of 2023 ended May 31, 2023, showing that the annual revenues enjoyed an rise of 25 percent compared to the prior year.

The firm generated turnover of £88.8 million for the fiscal year, compared to FY22​'s £71.2 million. The annual profit came in at £28.2 million, an increase of 25 percent from £22.5 million from the previous year.

Gross profit reached £76.2 million, climbing 19 percent from £63.8 million. Operating profit went up 25 percent to £34.5 million, with profit before tax up 27 percent to £35.5 million.