Hantec Markets Incurs $280,000 in Financial Loss for 2017‎

Hantec Markets put together a weak year-over-year performance relative to ‎‎2016 figures.‎

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, 2017. The FCA-regulated firm’s latest report was characterized by lagging 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 2017, Hantec Markets put together a weak year-over-year performance relative to 2016 figures.

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Specifically, Hantec Markets witnessed a deterioration in its operating revenues, which came in at only $5.41 million (£3.84 million) – this figure shows a steep decline from the $7.61 million (£5.4 million) reported back in the same period a year ago, namely lower -28 percent year-over-year.

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In terms of its operating income, the figure was even weaker, having yielded a loss of $305,000 (£216,666) compared to an operating profit of $1.48 million (£1.05 million) for the fiscal year ending June 30, 2016.

Meanwhile, administrative expenses decreased slightly year-on-year, despite the weak revenues, coming in at $5.82 million (£4.13 million) relative to $6.22 million (£4.42 million) the year prior.

Looking at the group’s final loss for the financial year, which factored out interest receivable and other income, Hantec Markets reported -$281,000 (£199,754) compared with a decent profit of $1.2 million (£844,860) in fiscal 2016.

 

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