Infinox Capital UK Reports Drop in Turnover for Fiscal 2019

After a strong 2018 fiscal year, Infinox Capital Limited, , has published its full-year results for its operations in the United Kingdom for the year ended March 31, 2019. Unlike the previous year, the metrics reveal a tough period for the broker.
Namely, the FCA-regulated brokerage reported a drop in turnover for its UK division. Specifically, it fell by 78.2 per cent, from £41.70 million in the 2018 fiscal year, down to £9.08 million in the 12 months ended March 31, 2019. This figure is also lower than the £17.5 million turnover achieved in fiscal 2017.

For the 2019 fiscal year, the brokerage reported a loss for its UK operations – £2.4 million. Again, this is significantly lower than the £2.8 million profit the brokerage achieved in the prior-year period in the UK.
Infinox Capital feels the weight of ESMA and Brexit
The results, which are now available through the UK’s Companies House are not out of the ordinary for the industry. In fact, since the regulatory restrictions were implemented by the (ESMA) back in August of 2018, many brokers have been feeling the pinch.
However, although the company has reported weaker results for its UK operations, overall, the Infinox Capital Group, which includes its entities in Britain and the Bahamas, has broken even for the year. In fact, the company saw significant growth across its global operations.