INFINOX Capital Limited has released its financial results for the fiscal year ending March 31, 2024, reporting a marked improvement in profitability despite a sharp decline in revenue.

For the year, the company reported a total turnover of £3.69 million, a drop from £14.63 million in 2023. While the decrease in revenue highlights a challenging year, the company’s efforts on cost control and operational efficiency have contributed to a recovery in its financial position.

Revenue Falls, Profit Rises

One of the notable figures in the report is the gross profit, which rose to £3.31 million from £2.47 million in 2023. This improvement was primarily driven by a substantial reduction in the cost of sales, which dropped from £12.16 million in the previous year to just £376,684 in 2024.

By cutting back on sales-related expenses, the company improved its overall profitability despite lower revenue.

Operating Profit Turns Positive

INFINOX Capital’s operating profit also rebounded, reaching £884,833 compared to an operating loss of £5.45 million in 2023. This turnaround largely reflects a focused effort to reduce administrative costs, which fell from £7.92 million to £2.43 million year-on-year.

This decrease in expenses was crucial for the company’s operational recovery, turning a previous year’s deficit into a positive outcome.

The company’s profit before tax amounted to £900,386, reversing a loss of £5.49 million reported in 2023. Interest receivables of £15,553 contributed modestly to the profit before tax, adding to the overall positive financial performance.

After accounting for a tax expense of £3,888, INFINOX Capital recorded a net profit of £896,498, a stark contrast to the net loss of £5.24 million in the prior year.

“The results for the year and the financial position are considered satisfactory by the directors, and they are confident of improved results. The business has recovered from the losses of the previous year due to favourable financial market conditions,” the firm stated in the company filing.