Notesco UK Limited, which operates the brokerage brand IronFX in the United Kingdom, has released its financial results for the year ended 31 December 2024. The company reported a significant increase in revenue during the period.

Revenue Doubles, Administrative Expenses Surge

Revenue rose to $1.44 million in 2024, more than double the $702K reported in 2023. Gross profit was equal to revenue, as no cost of sales was recorded. Administrative expenses increased sharply to $1.28 million, up from $544K in the previous year. Despite the rise in expenses, operating profit remained positive at $163K in 2024, slightly higher than the $157K reported in 2023.

Source: Company Information UK
Source: Company Information UK

Income tax expense rose to $38K, compared to $31K in the prior year. As a result, net profit for 2024 was $124K, a marginal decrease from the $125K reported in 2023.

Source: Finance Magnates