INFINOX Capital Limited has released its financial results
for the fiscal year ending March 31, 2024, reporting a marked improvement in
profitability despite a sharp decline in revenue.
For the year, the company reported a total turnover of £3.69
million, a drop from £14.63 million in 2023. While the decrease in revenue
highlights a challenging year, the company’s efforts on cost control and
operational efficiency have contributed to a recovery in its financial
position.
Revenue Falls, Profit Rises
One of the notable figures in the report is the gross
profit, which rose to £3.31 million from £2.47 million in 2023. This
improvement was primarily driven by a substantial reduction in the cost of
sales, which dropped from £12.16 million in the previous year to just £376,684
in 2024.
By cutting back on sales-related expenses, the company improved its
overall profitability despite lower revenue.
Operating Profit Turns Positive
INFINOX Capital’s operating profit also rebounded, reaching
£884,833 compared to an operating loss of £5.45 million in 2023. This
turnaround largely reflects a focused effort to reduce administrative costs,
which fell from £7.92 million to £2.43 million year-on-year.
This decrease in
expenses was crucial for the company’s operational recovery, turning a previous
year’s deficit into a positive outcome.
The company’s profit before tax amounted to £900,386,
reversing a loss of £5.49 million reported in 2023. Interest receivables of
£15,553 contributed modestly to the profit before tax, adding to the overall
positive financial performance.
After accounting for a tax expense of £3,888, INFINOX
Capital recorded a net profit of £896,498, a stark contrast to the net loss of
£5.24 million in the prior year.
“The results for the year and the financial position are
considered satisfactory by the directors, and they are confident of improved
results. The business has recovered from the losses of the previous year due to
favourable financial market conditions,” the firm stated in the company filing.
This article was written by Tareq Sikder at www.financemagnates.com.
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