Hantec Markets Posts 36% Jump in FY20 Revenue, Turns Profits

Monday, 03/01/2022 | 10:10 GMT by Arnab Shome
  • The broker posted the numbers for 18 months, instead of 12 months.
  • It pulled itself out of losses and turned healthy profits for the period.
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Hantec Markets, a UK-headquartered forex and contracts for differences (CFDs) broker, has filed its financial statement from July 2019 to December 2020 with Companies House, reporting a strong jump in key metrics.

According to the filing, the total turnover of the company for the period came in at almost £7.9 million, which is 36 percent higher than the previous 18 months. In the 2019 fiscal year, the broker reported a turnover of £3.85 million for 12 months. The latest figures were filed for 18 months as the broker changed its fiscal year-end.

Solid Profits

Additionally, the profitability of the broker pivoted from an operating loss of £338,370 from the previous fiscal year to the profitability of £478,430 in the latest period. After the consideration of other incomes, expenses and taxes, the company ended the period with £340,266 in net profit.

“The group’s business developed in line with the board’s expectations, and the results for the period and the financial position at the period end were considered satisfactory, given the increasing competition and regulation within the sector,” the company stated in the filing.

“The Group’s client numbers, client deposits and trade volumes all increased in the period.” However, the broker did not disclose any of those numbers.

Moreover, Hantec Markets added that it is not focusing on expansion and is looking for opportunities overseas.

Apart from turnover and profits, the broker strengthened its balance sheet in the 18 months. It ended the fiscal year with net assets in excess of £5.9 million, which is up from £5.6 million in the 2019 fiscal year.

Hantec Markets, a UK-headquartered forex and contracts for differences (CFDs) broker, has filed its financial statement from July 2019 to December 2020 with Companies House, reporting a strong jump in key metrics.

According to the filing, the total turnover of the company for the period came in at almost £7.9 million, which is 36 percent higher than the previous 18 months. In the 2019 fiscal year, the broker reported a turnover of £3.85 million for 12 months. The latest figures were filed for 18 months as the broker changed its fiscal year-end.

Solid Profits

Additionally, the profitability of the broker pivoted from an operating loss of £338,370 from the previous fiscal year to the profitability of £478,430 in the latest period. After the consideration of other incomes, expenses and taxes, the company ended the period with £340,266 in net profit.

“The group’s business developed in line with the board’s expectations, and the results for the period and the financial position at the period end were considered satisfactory, given the increasing competition and regulation within the sector,” the company stated in the filing.

“The Group’s client numbers, client deposits and trade volumes all increased in the period.” However, the broker did not disclose any of those numbers.

Moreover, Hantec Markets added that it is not focusing on expansion and is looking for opportunities overseas.

Apart from turnover and profits, the broker strengthened its balance sheet in the 18 months. It ended the fiscal year with net assets in excess of £5.9 million, which is up from £5.6 million in the 2019 fiscal year.

About the Author: Arnab Shome
Arnab Shome
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About the Author: Arnab Shome
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
  • 6408 Articles
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