The UK’s FX
and CFD retail broker LandFX announced a loss of £24,350 for the year ended
December 31, 2024, reversing from a profit of £55,033 in 2023, according to its
annual report released today (Monday).
LandFX UK Reports Annual
Loss for 2024 as Revenue Declines
The
London-based LandFX UK Limited, regulated by the UK Financial Conduct Authority
(FCA), saw its revenue fall to £508,629 in 2024, down
approximately 15% from £598,193 in 2023. The firm’s net assets stood at
£502,216 at year-end, compared to £526,566 in the previous year.
“During
the year, the company has primarily focused on servicing its existing client
base,” stated the company’s strategic report, which was signed by Director
Jinsoo Park.
The
financial intermediary, whose main source of revenue is commission charged
based on client trading volumes, reported a decrease in its cash position to
£96,525 at year-end, down from £242,189 at the close of 2023.
FinanceMagnates.com
also recently reported the annual results of another UK-based broker, Sucden
Financial, whose pre-tax profit rose to nearly £37 million.
LandFX UK Limited – Key
Financial Data (2023-2024)
|
Financial Metric |
2024 (£) |
2023 (£) |
Change (%) |
|
Revenue |
508,629 |
598,193 |
-15.0% |
|
Cost of sales |
32,772 |
31,482 |
+4.1% |
|
Gross profit |
475,857 |
566,711 |
-16.0% |
|
Administrative expenses |
501,618 |
509,520 |
-1.6% |
|
Operating (loss)/profit |
(25,761) |
57,191 |
-145.0% |
|
(Loss)/profit |
(24,350) |
55,033 |
-144.2% |
|
Net assets |
502,216 |
526,566 |
-4.6% |
|
Cash at |
96,525 |
242,189 |
-60.1% |
|
Debtors |
787,434 |
340,846 |
+131.0% |
|
Total current assets |
883,959 |
583,035 |
+51.6% |
|
Creditors (within one year) |
399,975 |
69,949 |
+471.8% |
|
Employee remuneration |
324,243 |
342,491 |
-5.3% |
|
Number of employees |
3 |
3 |
0.0% |
“Low Apetite for Risk”
Administrative
expenses remained relatively stable at £501,618 compared to £509,520 in 2023,
suggesting that cost management was not a significant factor in the profit
decline. Instead, the 15% revenue reduction appears to be the primary driver of
the financial performance shift.
The company
highlighted various risk factors in its report, including price, credit, cash
flow, liquidity, and foreign currency risks. LandFX noted that it has “a
low appetite for risk” and has implemented controls to mitigate potential
exposures, including ensuring “all customer funds are held in a UK
regulated clearing bank.”
LandFX UK
Limited is ultimately controlled by Park, who serves as one of the company’s
two directors alongside Shashi Patel. The company is registered in England and
Wales with company number 09358463 and operates from its registered office at 1
Filament Walk, London. Under its FCA authorization the
company is also operating Land-Liquidity, offering institutional brokerage services.
The UK’s FX
and CFD retail broker LandFX announced a loss of £24,350 for the year ended
December 31, 2024, reversing from a profit of £55,033 in 2023, according to its
annual report released today (Monday).
LandFX UK Reports Annual
Loss for 2024 as Revenue Declines
The
London-based LandFX UK Limited, regulated by the UK Financial Conduct Authority
(FCA), saw its revenue fall to £508,629 in 2024, down
approximately 15% from £598,193 in 2023. The firm’s net assets stood at
£502,216 at year-end, compared to £526,566 in the previous year.
“During
the year, the company has primarily focused on servicing its existing client
base,” stated the company’s strategic report, which was signed by Director
Jinsoo Park.
The
financial intermediary, whose main source of revenue is commission charged
based on client trading volumes, reported a decrease in its cash position to
£96,525 at year-end, down from £242,189 at the close of 2023.
FinanceMagnates.com
also recently reported the annual results of another UK-based broker, Sucden
Financial, whose pre-tax profit rose to nearly £37 million.
LandFX UK Limited – Key
Financial Data (2023-2024)
|
Financial Metric |
2024 (£) |
2023 (£) |
Change (%) |
|
Revenue |
508,629 |
598,193 |
-15.0% |
|
Cost of sales |
32,772 |
31,482 |
+4.1% |
|
Gross profit |
475,857 |
566,711 |
-16.0% |
|
Administrative expenses |
501,618 |
509,520 |
-1.6% |
|
Operating (loss)/profit |
(25,761) |
57,191 |
-145.0% |
|
(Loss)/profit |
(24,350) |
55,033 |
-144.2% |
|
Net assets |
502,216 |
526,566 |
-4.6% |
|
Cash at |
96,525 |
242,189 |
-60.1% |
|
Debtors |
787,434 |
340,846 |
+131.0% |
|
Total current assets |
883,959 |
583,035 |
+51.6% |
|
Creditors (within one year) |
399,975 |
69,949 |
+471.8% |
|
Employee remuneration |
324,243 |
342,491 |
-5.3% |
|
Number of employees |
3 |
3 |
0.0% |
“Low Apetite for Risk”
Administrative
expenses remained relatively stable at £501,618 compared to £509,520 in 2023,
suggesting that cost management was not a significant factor in the profit
decline. Instead, the 15% revenue reduction appears to be the primary driver of
the financial performance shift.
The company
highlighted various risk factors in its report, including price, credit, cash
flow, liquidity, and foreign currency risks. LandFX noted that it has “a
low appetite for risk” and has implemented controls to mitigate potential
exposures, including ensuring “all customer funds are held in a UK
regulated clearing bank.”
LandFX UK
Limited is ultimately controlled by Park, who serves as one of the company’s
two directors alongside Shashi Patel. The company is registered in England and
Wales with company number 09358463 and operates from its registered office at 1
Filament Walk, London. Under its FCA authorization the
company is also operating Land-Liquidity, offering institutional brokerage services.
This post is originally published on FINANCEMAGNATES.
