AFX Group Reports Solid Financial Results for FY 2017, UK Revenue Up Fourfold

AFX Group’s total revenues surged to $4.9 million (£3.75 million) relative to just $2.16 million (£1.65 million) in 2016.

AFX Group, the UK trading arm of AFX Markets Ltd, which is authorised by the UK’s FCA and Cypriot CySEC, has released its annual report and year-end financial statements for the period ending April 30, 2018. The latest results on UK Companies House showed a healthy uptick in turnover in conjunction with a much higher profit relative to the comparable period of FY 2016.

For the fiscal year 2017‎, AFX Group’s total revenues surged to $4.9 million (£3.75 million) relative to just $2.16 million (£1.65 million) in the year prior– this was a growth by 127 percent year-over-year.

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In addition, AFX Group experienced a decline in administrative expenses during the latest fiscal period, reported at $1.49 million (£1.14 million), rescinding by 6 percent year-over-year from $1.58 million (£1.21 million).

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Operating profits were also pointed higher during FY 2017. Looking at the group’s final numbers for the financial year, which factored out interest receivable and other income, AFX Group reported ‎gains of $1.86 million (£1.42 million). This figure is seven times higher year-over-year from $238,000 (£182,803), by far its largest growth segment.

One of the group’s most noteworthy findings was the distribution of its revenues. Out of the aforementioned revenue figure, the firm generated £1.71 million, which is a more than four-fold increase from £410,000 the previous year. On the other end, the Cypriot brokerage earned total proceeds of £2.04 million, relative to £1.24 in 2016 .

AFX Group is the second largest European subsidiary of AFX Markets. The group has maintained an active emphasis on an MT4 offering for foreign exchange, contracts-for-difference (CFDs), and spread betting services.

In 2016, the boutique financial investment firm consolidated a range of its products under two brands including its Quantic and STO offerings, part of its overall brand structure.

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