UK-based Hantec Markets, a foreign exchange (FX) and contracts-for-difference (CFD) broker, has unveiled its financial statement for the fiscal year ending June 30, 2018. The FCA-regulated firm’s latest report was characterized by improved metrics in areas ranging from operating income to revenues, according to its latest filing with the UK’s Companies House.
In terms of the aggregated financial results, by the end of June 2018, Hantec Markets put together a strong year-over-year performance relative to 2017 figures.
Specifically, Hantec Markets witnessed a notable advance in its operating revenues, which came in at $6.97 million (£5.3 million) – this figure shows an uptick from the $5.41 million (£3.84 million) reported back in the same period a year ago, namely higher 38 percent year-over-year.
In terms of its operating income, the figure was even stronger, having yielded a profit of $1.48 million (£1.12 million) compared to an operating loss of $305,000 (£216,666) for the fiscal year ending June 30, 2017.
Q8 Trade Gains Recognition for ‘Most Trusted Trading Platform in MENA’Go to article >>
Meanwhile, administrative expenses rose slightly year-on-year, even lower in dollar terms despite the strong growth in revenues, coming in at $5.6 million (£4.25 million) relative to $5.82 million (£4.13 million) the year prior.
Revenues’ Climb Reflected in Robust Profit
Looking at the group’s bottom line for the financial year, which factored out interest receivable and other income, Hantec Markets reported a decent profit of $1.26 million (£961,298) compared with a loss of $281,000 (£199,754) in fiscal 2017.
In addition, Hantec Markets showed net current assets in holding of $6.92 million (£5.27 million) during the fiscal year ending June 30, 2018, relative to $5.6 million (£4.31 million) over the same period in 2017, or 22 percent higher on a yearly basis.
Earlier this year, Hantec Markets strengthened its alliance with trading systems integrator and pricing bridge provider Gold-i in order for the broker to offer its client base greater access to spread betting products.
Hantec Markets is the official FX partner if iconic east London football club, West Ham United. Last year, the Stratford-based team signed a three-year deal with the FCA-regulated broker.