INFINOX UK Reports Significant Revenue Decline in FY 24

INFINOX Capital Limited, the London arm of online brokerage INFINOX, has presented its financial and operational performance for the year ended 31 March 2024 (FY 24), reporting a reduction of client assets under management of 183% and revenue reduction by 75% as a result of its decision to close retail business to pursue IXO Prime business, INFINOX’s institutional product offering.

INFINOX UK’s revenue for FY24 was £3.7 million, a substantial decline from £14.6 million in FY23. Client assets under management were £5.4 million, down by £10.1 million compared to FY23.

Despite a significant drop in revenue, the company achieved a net profit of £0.9 million, compared to a loss of £5.2 million in the previous year.

source: INFINOX UK’s financial report for 2024