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Hantec Maketi Fa'ailoga 36% Si'i i le FY20 Tupe maua

01/03/2022
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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 the 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 2019 fiscal, the broker reported a turnover of £3.85 million, but that is for 12 months. The latest figures were filed for 18 months as the broker changed its fiscal.

Solid Profits

The profitability of the broker also pivoted from an operating loss of £338,370 from the previous fiscal 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 profits.

“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
 
 tulafono faatonutonu  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.

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

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

Hantec Markets, a UK-headquartered
 
 forex  and contracts for differences (CFDs) broker, has filed its financial statement from July 2019 to December 2020 with the 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 2019 fiscal, the broker reported a turnover of £3.85 million, but that is for 12 months. The latest figures were filed for 18 months as the broker changed its fiscal.

Solid Profits

The profitability of the broker also pivoted from an operating loss of £338,370 from the previous fiscal 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 profits.

“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
 
 tulafono faatonutonu  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.

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

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

Source: https://www.financemagnates.com/forex/brokers/hantec-markets-posts-36-jump-in-fy20-revenue-turns-profits/