NEX Group Discloses Rise in Full-Year Revenues and Earnings
- NEX noted that the sale of ICAP Global Broking for £1.3 billion to TP ICAP plc delivered value to its shareholders.
UK-based Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term company NEX Group plc, formerly known as ICAP plc, has released its latest tranche of financial metrics for the fiscal year ending March 31,2017, which showed a positive performance amid challenging market conditions that the company noted in its report.
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NEX Group’s revenues from continuing operations experienced strong growth in 2016, rising to £543 million ($701.9 million) vs. just £460 million ($594.5 million) in 2016, or 18.0 percent year-over-year.
The group’s trading operating profit from continuing operations was also on the uptick, climbing to £145 million ($187.4 million) in FY 2017 from £139 million ($179.6 million) in the year prior – good for a 12% percent ascension year-over-year excluding the impact from hedging. NEX noted that the sale of ICAP Global Broking for £1.3 billion to TP ICAP plc delivered value to its shareholders.
Looking further at its operating profits however, NEX Group reported trading EPS (basic) from continuing operation at 23.2p per share which is marginally down relative to 23.6p per share in the previous year.
This weakness also extended towards its earnings-per-share (EPS) including discontinued operations, which showed a figure of 42.9p per share in 2017, down from 43.4p in the year prior.
Commenting on the results, Michael Spencer, CEO of NEX Group, said: “Our performance remains strong in a tough market environment. NEX Markets has focused on expanding its product suite to a wider client base and continues to win market share in US Treasury actives, EU Repo and Asian NDF’s. Through NEX Opportunities, our financial technology investment business, we acquired ENSO, which provides alpha-generating Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Read this Term to many of the world’s most successful fund managers, and Abide Financial, which provides regulatory reporting services that are becoming increasingly required by financial institutions as we head towards MiFID II.”
Spencer continued: “Our priorities for 2017/18 are clear and we are excited about the future. Through a combination of continued investment in new products, and the implementation of our transformation programme, which will focus on creating efficiencies, NEX is well positioned to deliver growth, increase divisional operating margins to at least 40% and deliver value for our clients and shareholders.”
UK-based Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term company NEX Group plc, formerly known as ICAP plc, has released its latest tranche of financial metrics for the fiscal year ending March 31,2017, which showed a positive performance amid challenging market conditions that the company noted in its report.
The London Summit 2017 is coming, get involved!
NEX Group’s revenues from continuing operations experienced strong growth in 2016, rising to £543 million ($701.9 million) vs. just £460 million ($594.5 million) in 2016, or 18.0 percent year-over-year.
The group’s trading operating profit from continuing operations was also on the uptick, climbing to £145 million ($187.4 million) in FY 2017 from £139 million ($179.6 million) in the year prior – good for a 12% percent ascension year-over-year excluding the impact from hedging. NEX noted that the sale of ICAP Global Broking for £1.3 billion to TP ICAP plc delivered value to its shareholders.
Looking further at its operating profits however, NEX Group reported trading EPS (basic) from continuing operation at 23.2p per share which is marginally down relative to 23.6p per share in the previous year.
This weakness also extended towards its earnings-per-share (EPS) including discontinued operations, which showed a figure of 42.9p per share in 2017, down from 43.4p in the year prior.
Commenting on the results, Michael Spencer, CEO of NEX Group, said: “Our performance remains strong in a tough market environment. NEX Markets has focused on expanding its product suite to a wider client base and continues to win market share in US Treasury actives, EU Repo and Asian NDF’s. Through NEX Opportunities, our financial technology investment business, we acquired ENSO, which provides alpha-generating Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Read this Term to many of the world’s most successful fund managers, and Abide Financial, which provides regulatory reporting services that are becoming increasingly required by financial institutions as we head towards MiFID II.”
Spencer continued: “Our priorities for 2017/18 are clear and we are excited about the future. Through a combination of continued investment in new products, and the implementation of our transformation programme, which will focus on creating efficiencies, NEX is well positioned to deliver growth, increase divisional operating margins to at least 40% and deliver value for our clients and shareholders.”