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FxPro UK Limited, the UK business of FxPro Group, has released its financial report for the full year to December 31, 2014. The company saw revenues decline, but managed to markedly slash expenses and thus cut net losses.
Commenting on the numbers, the company said they were in line with expectations and reflected the record low Forex market volatility in the period in question.
Let’s examine some of the key performance data contained in the report.
- Revenues for the year to December 31, 2014, amounted to £619,966 ($968,120), down 54% from £945,161 in revenues registered in 2013.
- Net loss for 2014 was £63,537, down 86.4% from the loss of £465,965 registered in 2013.
- The net loss decline was attributed to FxPro’s success in cutting expenditure, especially staff costs. Overall expenses were reduced 44% from 2013 levels.
- Record low volatility throughout last year weighed on trading activity last year. As a result, volumes traded in 2014 amounted to $22.8 billion, down from $49 billion in 2013.
- As of December 31, 2014, FxPro UK Limited had total assets of £1,087,731 and net assets of £410,706. The number of ordinary shares at that point equaled 1,400,000.
To view the official financial report by FxPro, click here.
Note that this report presents only the data for FxPro UK Limited, whereas the majority of FxPro’s business is conducted via its Cypriot subsidiary.