The British arm of TIOmarkets, TIO Markets UK Limited, went under “consolidation [and] restructuring” in 2022, pushing its yearly revenue down to $34,171. In the previous year, the company reported a revenue of $150,961.
The cost of sales of the UK-based subsidiary, on the other hand, increased to $197,131 from $145,935. Its administrative costs were reported as $807,729, higher than $446,096.
Additionally, the UK company generated $970,645 from other operating income sources last year, compared to the previous year’s figures of $441,0…
Read the full article at: https://www.financemagnates.com/forex/restructuring-of-tiomarkets-uk-arm-resulted-in-a-2022-revenue-drop/