AETOS UK’s Administrative Expense Almost Shadows FY23 Revenue

<p>AETOS Capital Group UK Limited (AETOS UK), the wholly-owned subsidiary of the Australian broker AETOS Capital Group, completed the fiscal year 2023 that ended on March 31 with an annual turnover of £399,017, according to the latest Companies House filing. The figure improved by about 12 percent from <a href="https://www.financemagnates.com/forex/brokers/aetos-uk-breaks-even-in-fy21-as-sales-cost-drops/">the previous year</a>.</p><p>Revenue of AETOS UK
</p><p>Despite the year-over-year improvement, the revenue remains substantially lower than what was reported by the company earlier. Specifically, the revenue of the UK unit of <a href="https://www.financemagnates.com/tag/aetos/">AETOS </a>began to descend from the peak of £2.13 million that it had generated in FY18. In the following consecutive years, its revenue decreased: £2.08 million in FY2019, £1.89 million in FY20, and £863,726 in FY21.
</p><p>Established in 2007, AETOS primarily offers trading services with contracts for differences (CFDs) instruments of forex, commodities, shares, and other popular asset classes to retail and wholesale clients.
</p><p>Apart from the United Kingdom, the AETOS group is regulated in Australia, Vanuatu, and <a href="https://www.financemagnates.com/forex/brokers/aetos-gains-regulatory-license-in-the-cayman-islands/">The Cayman Islands</a>. Earlier, the AETOS Group Chair revealed the plans to expand its global presence further afield.
</p><p>“The company primarily provided brokerage services for foreign exchange and precious metals,” the Companies House filing noted. “The company does not take trade positions which expose it to material price risk and nor does it have a material exposure to movements of the related financial products.”
</p><p>Rising Costs
</p><p>The latest revenue rise of AETOS UK resulted in a rise in expenses as its administrative costs came in at £398,875 compared to £356,030 in the previous year. In both years, the UK’s broker’s annual revenue was almost shadowed by the expenses. Considering an interest income, AETOS UK closed the fiscal year with a profit of £1,004. The company has been breaking even with minimum profits for several consecutive years.</p><p>Meanwhile, AETOS UK’s balance sheet has net assets worth £385,305.</p><p>New Zealand's FMI standards; ICE delists Bakkt's contracts; <a href="https://www.financemagnates.com/forex/news-nuggets-31-july-new-zealands-fmi-standards-ice-delists-bakkts-contracts/">read today's news nuggets</a>.</p>

This article was written by Arnab Shome at www.financemagnates.com.