Axi’s UK Business Posts 46% Increase in FY21 Client Revenue

Axicorp Limited, the London-based subsidiary of Aussie FX brand AxiCorp Financial Services Pty Ltd (AFSPL), has filed its annual financial report ending on June 30, 2021. The company saw strong growth in its revenues and profits.

More specifically, the revenues generated by clients of the AFSPL group serviced by the company increased by 46% in 2021 to £17.2 million, up from client revenues of £11.8 million the previous year.

Axicorp UK booked £10.8 million in revenues in 2021, which jumped by almost 130% compared to £4.78 million in the previous year. After considering sales costs and administrative expenses, the broker turned an operating profit of £1.5 million, which is 347% higher than the fiscal year 2020.

During fiscal 2021, the company's comprehensive income came in at nearly £1.9 million, increasing from £259,174 generated in the previous fiscal year.

The purpose of Axicorp UK is to provide support services to the ultimate parent company AFSPL. The principal activity of the company during the financial year was the provision of services for direct market access trading of contracts for difference and other financial instruments.

Last month, Axi has launched its new Copy Trading platform, enabling investors to download the platform or app and to pick traders to follow as usual in similar copy-trading platforms.