Hantec Markets Limited, a UK-headquartered forex and contracts for differences (CFDs) broker, published its financials for 2021, reporting an annual turnover of about £5.4 million. According to the latest Companies House filing, the figure improved by 2.6 percent from the previous 12 months.
Previously, the broker filed its numbers for 18 consecutive months, from July 2019 to December 2020, when it generated a turnover of almost £7.9 million. The addition of six months in the previous filing makes that figure look strong, but the broker's performance has improved in the last 12 months.
However, there was a massive slump in the other income source of the broker, which came in at £36,667. Considering the administrative expenses, the UK broker closed the year with an operating loss of £2,472, while it turned a profit of £478,430 in the previous 18 month's filing.
After considering receivable and payable interest, the broker's pre-tax profits for 2021 came in at £6,881 compared to £379,439 in the previous 18 months. It ended the financial year with a net profit of £26,873.
Additionally, the net profits of £340,266 in the previous 18 months pushed its net assets to £5.98 million from £5.96 million.
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A Global Broker
Apart from the UK, Hantech Markets offers services with its license in Mauritius and Jordan. All of these local entities are controlled by Hantec Markets Holdings Limited. However, the reported figures only show the number of UK entities and their subsidiaries.
"The Group's business developed in line with the board's expectations and the results of the period and the financial position at the period end were considered satisfactory, given the increasing competition and regulation within the sector," the Companies House filing stated, adding: "The Group's client numbers, client deposits and trade volumes, all increased in the year." However, it did not reveal any of the client metrics.
Now, the brokerage group is looking for overseas expansion opportunities. It already entered the LATAM markets earlier this year with the opening of an office in Chile.
