Exclusive: Hantec Markets grows revenues 38% to £5.3M in 2018

hantec markets office

LeapRate Exclusive… LeapRate has learned via regulatory filings that FCA regulated retail FX and CFDs broker Hantec Markets had a fairly successful Fiscal 2018 year, with the company growing its Revenues by 38% and turning a 2017 net loss into a handy net profit for the year.

Hantec has a June 30 fiscal year end, so the results described are for the 12 months ended June 30, 2018.

Overall, Hantec brought in £5.3 million (USD $7.0 million) in Revenues during 2018, up by 38% from 2017’s £3.8 million. Net profit in 2018 of £961,000 compared to a loss of £200,000 last year.

The company didn’t pay a dividend in 2018, retaining its earnings to grow its capital base to £5.3 million as at year end.

As at June 30, 2018 Hantec held client funds of £27.5 million (USD $36.2 million), slightly down from £28.5 million last year.

The company employs 27 people, up from 26 last year.

We had reported exclusively back in September that Hantec Markets had upgraded its FCA license to a full-scope 730K license.

Hayel Abu Hamdan Hantec

Hayel Abu-Hamdan, Hantec

LeapRate spoke with Hantec Markets Director and COO Hayel Abu-Hamdan about the company’s results, here is what he had to say:

We’re pleased with company performance in the last financial year, and especially the way our strategic global growth has continued despite regulatory restrictions. Client numbers, client deposits and trade volumes have all increased on the previous year, and we expect this growth to continue in the next year. We have increased turnover significantly on the previous financial year whilst keeping the costs of business at a similar level. This performance has given us the opportunity to explore more markets and search for additional revenue drivers.

Whilst the ESMA product intervention has had an impact on retail trade volumes since its implementation, our overall trade volume has remained at a similar level.

Along with our FCA full scope licence approval in August, we have recently opened an office in Jordan which is authorised and regulated by the JSC. These factors give us a positive outlook going into 2019 and beyond, despite Brexit uncertainty and regulatory restrictions imposed on the industry. Hantec is a globally recognised brand within the CFD and FX arenas and we will continue to build on the strong foundations built over the last decade.”

Hantec Markets is part of the Hantec Group, which has been a market leader in Forex trading services for over two decades with offices in London, Sydney, Tokyo, Hong Kong, Auckland, Dubai, Mauritius and Lagos. In September 2017 Hantec Markets announced a three year agreement with Premier League football club West Ham United as the Club’s new official global FX partner. Toward the end of the 2017 fiscal year Hantec acquired the retail client base of IKON Finance, accounting for part of the growth in revenues during 2018 noted above.

Hantec Markets’ 2018 income statement follows:

Hantec Markets 2018 income statement

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