FINSA Europe Sees Growth in 2019 Profit, New Brand in the Works

UK-based spread betting and CFD trading operator, FINSA Europe Ltd, which operates under the trading names Financial Spreads and Financial Spreads Plus, has unveiled its financial results for the year ending November 30, 2019. The latest metrics were characterized by lower revenues and higher profits, according to its latest filing with the UK’s Companies House.

FINSA followed up on a 2018 profit of £793,397 with a £1.2 million ($1.6 million) gain for 2019, up 55 percent year-over-year. But, excluding one-off tax gains, the company earned £990,827 which was higher by 7 percent from a year ago.

The company also managed to increase net assets attributable to owners of its parent to £5.21 million ($6.96 million), up 23 percent compared to £4.24 million in the year prior.

Meanwhile, operating revenues at FINSA amounted to £6.8 million ($9.09 million) in 2019, down 17 percent from a reading of £8.19 million registered in 2018.

In terms of operational costs, the 2019 figure reflected a fall of 16 percent year-on-year, coming in at £5.35 million ($7.15 million) compared with £6.43 million in 2018. Accordingly, and after deducting the administrative expenses, the operating income for the year amounted to nearly £964,549 relative to £902,416 in profit for 2018.

Other business highlights show that FINSA Europe plans to launch its new brand, Trade Nation, taking a new approach to the market and providing a 'much-improved service and user experience' for retail and professional traders. The company added that it is confident that the new brand will enhance the rates of retention and brand loyalty and increase levels of new client Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term.

FINSA Europe holds trading licenses in the UK and Australia, and its core business includes Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term, CFDs and spread betting.