UK-based spread betting and CFD trading operator FINSA Europe Ltd, which operates under the trading names Financial Spreads and Financial Spreads Plus, has unveiled its financial results for the year ending November 30, 2016, which were characterized by higher revenues and flat profits, according to its latest filing with the UK’s Companies House.
In terms of the aggregated financial results by the end of 2016, FINSA put together a better year-on-year performance relative to 2015.
Stocks to Watch This Week – Expedia Group, IncGo to article >>
FINSA followed up on a 2015 profit of £12,799 ($15,978) with a £146,938 ($183,436) gain for 2016, and also managed to nearly double its net assets to £635,114 ($792,873) compared to £348,176 ($434,618) in the year prior.
Meanwhile, operating revenues at FINSA amounted to £7.96 million ($9.94 million) in 2016, up 60.0 percent from a reading of £4.97 million ($6.20 million) registered in 2015. In terms of operational costs, the 2016 figure reflected an increase of 52.0 percent year-on-year, coming in at £6.91 million ($8.62 million) compared with £4.55 million ($5.67 million) in 2015. Accordingly, and after deducting the administrative expenses, the operating income for the year amounted to nearly £183,000 relative to an operational loss of £23,500 in 2015.