CLS Group Sees Decline in YoY Profits for 2017
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CLS Group Sees Decline in YoY Profits for 2017
The CLS Group (CLS), a forex settlement services provider, has released its financial report for 2017. Revenues were down year on year but the firm still managed to maintain a respectable level of profitability.
2016 saw CLS finish the fiscal year with £201.2 million in revenue. At the end of 2017 this figure had been reduced to £197.5 million – a two percent reduction.
The shrinking in revenues reflected an even greater reduction in profits. The settlement services provider saw post-tax profits of £15.8 million in 2017, down from £41.6 million in 2016.
CLS claimed that this discrepancy does not reflect ... (read more)
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