Taurex Cuts Annual Losses by £579K as Revenue Doubles in 2024 After Rebranding from Zenfinex

London-based online trading company Taurex Limited, formerly
known as Zenfinex Limited, reported a smaller loss for the year ended 31
December 2024. The company’s annual loss dropped to £1.71 million from £2.29
million in 2023.

Taurex Reports Growth, Losses Narrowed

Revenue more than doubled over the year as turnover reached
£1.95 million in 2024, compared to £848,306 in the previous year. The cost of
sales also increased, rising to £619,405 from £196,627 in 2023. As a result,
gross profit improved to £1.33 million, up from £651,679.

Source: Company Information Service, UK

Operating Loss Narrows Despite Rising Costs

Administrative expenses continued to weigh on the company.
These costs rose slightly to £3.04 million, from £2.94 million a year earlier.
As a result, the operating loss narrowed to £1.71 million, compared to £2.29
million in 2023.

The company earned £8,418 in interest income, nearly double
the £4,238 recorded in the previous year. However, it did not pay any taxes due
to the overall loss.

London-based online trading company Taurex Limited, formerly
known as Zenfinex Limited, reported a smaller loss for the year ended 31
December 2024. The company’s annual loss dropped to £1.71 million from £2.29
million in 2023.

Taurex Reports Growth, Losses Narrowed

Revenue more than doubled over the year as turnover reached
£1.95 million in 2024, compared to £848,306 in the previous year. The cost of
sales also increased, rising to £619,405 from £196,627 in 2023. As a result,
gross profit improved to £1.33 million, up from £651,679.

Source: Company Information Service, UK

Operating Loss Narrows Despite Rising Costs

Administrative expenses continued to weigh on the company.
These costs rose slightly to £3.04 million, from £2.94 million a year earlier.
As a result, the operating loss narrowed to £1.71 million, compared to £2.29
million in 2023.

The company earned £8,418 in interest income, nearly double
the £4,238 recorded in the previous year. However, it did not pay any taxes due
to the overall loss.

This post is originally published on FINANCEMAGNATES.

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