Notesco UK Limited, which operates the brokerage brand
IronFX in the United Kingdom, has released its financial results for the year
ended 31 December 2024. The company reported a significant increase in revenue
during the period.
Revenue Doubles, Administrative Expenses Surge
Revenue rose to $1.44 million in 2024, more than double the
$702K reported in 2023. Gross profit was equal to revenue, as no cost of sales
was recorded. Administrative expenses increased sharply to $1.28 million,
up from $544K in the previous year. Despite the rise in expenses, operating
profit remained positive at $163K in 2024, slightly higher than the $157K
reported in 2023.
Income tax expense rose to $38K, compared to $31K in the
prior year. As a result, net profit for 2024 was $124K, a marginal decrease
from the $125K reported in 2023.
Notesco UK Limited, which operates the brokerage brand
IronFX in the United Kingdom, has released its financial results for the year
ended 31 December 2024. The company reported a significant increase in revenue
during the period.
Revenue Doubles, Administrative Expenses Surge
Revenue rose to $1.44 million in 2024, more than double the
$702K reported in 2023. Gross profit was equal to revenue, as no cost of sales
was recorded. Administrative expenses increased sharply to $1.28 million,
up from $544K in the previous year. Despite the rise in expenses, operating
profit remained positive at $163K in 2024, slightly higher than the $157K
reported in 2023.
Income tax expense rose to $38K, compared to $31K in the
prior year. As a result, net profit for 2024 was $124K, a marginal decrease
from the $125K reported in 2023.
This post is originally published on FINANCEMAGNATES.
