FCA licensed Retail FX and CFDs broker Hantec Markets Limited has reported its results for 2024, showing a slowdown in activity leading to a 9% decrease in Revenues, as the company continued to operate at near-breakeven for a third consecutive year.
Revenues at Hantec Markets UK came in at £6.21 million in 2024, down as noted by 9% from £6.81 million in 2023. On the bottom line, Hantec Markets UK posted a slight net profit of £72K, versus a loss of £55K the previous year.
Management noted that the company’s business developed generally 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 regulation within the sector. A small operating profit of £82,362 was reported for the year despite a £601,331 reduction in revenue. This was achieved by a significant rationalisation of office expenditure.
The directors expect market condition to be challenging in 2025 but still expect to improve the profitability of the business.
Hantec Markets UK saw a decline in client money held at the company in 2024 for a second consecutive year, down to £7.9 million from £9.7 million in 2023 and £16.8 million as at year-end 2022.
Hantec Markets is controlled by former ODL Securities and Rosenthal Collins executive Bashir Nurmohamed. Mr. Nurmohamed established the broker in 2010 with backing from Hong Kong based Hantec Group founder Tang Yu Lap.
Hantec Markets Limited’s 2024 income statement and balance sheet follow:
