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.
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.
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.
