Top financial broker FxPro UK has announced an impressive result in its revenue for 2021. The previous year, FxPro posted a net loss of £221,724. But the company’s net profit increased substantially to £466,597 for the year ended 31 December 2021
In 2021, FxPro posted revenues of £1,723,281, which is 11% higher than the previous year’s result.
A drop in company’s expenses
The company also had a significant reduction both in its marketing and selling expenses. The 2019 result was £493,162, but it recorded over a 50% drop in expenses to £210,194.
FxPro had a total asset of £6,267,450 in December 2021, which is higher than the £5,106,657 it had in 2019. Also, the firm had a net asset of £4,101,870 in 2019, but it rose to v in 2021.
The improved performance has also increased the firm’s cash equivalents from £3,696,539 in 2019 to £4,275,428 in 2021.
The company also says it has experienced consistency in growth due to an increase in demand for different financial products. Presently, FxPro offers trading different financial instruments such as commodities and foreign exchange pairs.
Impressive volume during the pandemic
FxPro UK also stated that the firm had issued 1.4 million ordinary shares on 31 December 2021. It didn’t make any changes in issued or authorized shared capital.
The company has also made recent changes to its board of directors to reposition it towards the expanding global FX markets. Charalambos Psimolophitis is now FxPro’s Director of operations. Psimolophitis has been in the industry for decades and hopes to bring his wealth of experience into the team.
Marianne Evagorou is another key member of the company’s management team. He is the Head of the company’s operations in the UK.
FxPro stated that its activities were not negatively impacted by the Covid-19 pandemic. In contrast, the pandemic led to increased trading volume amidst the significant market fluctuations.