- LandFX sees a 30% drop in 2023 turnover, but a 16% increase in operating profit due to cost savings.
- Despite revenue decline, LandFX achieves 20% rise in net profit in 2023 through reduced administrative and sales expenses.
LandFX, a UK-registered and FCA-licensed broker, has released its 2023 financial results, showing a decline in both turnover and gross profit by nearly 30%.
Despite these challenges, LandFX achieved an operating profit of £57,000, up 16% from the previous year, largely due to reduced administrative and sales expenses.
The company’s turnover dropped to £598,193 from £823,959, and gross profit fell to just under £567,000.
However, administrative costs were cut significantly, falling from £740,000 to £510,000, which helped the company increase its operating profit from £49,008 in 2022 to £57,191 in 2023.
