Hantec Markets reported an increase in annual revenue of 7%, from £5.39 million in 2021 to £5.76 in 2022. However, its net profit suffered a loss.
Considering market conditions full of intense competition, global automated trading provider Hantec Markets has successfully recorded a ceaseless growth to £5.76 million in annual revenue ending on 31 December 2022. The figure is somewhat satisfactory as it exceeds around 7% from the previous year's performance of £5.39 million.
Based on its official website, the fintech company maintains its strong performance at a total asset value of £6.03 million in 2022, hitting a negligible rise of just under 1%, compared to £5.98 million in 2021. Even though it has struggled to incline performance financial results, most of the other financial results tend to decline and remain stable to the company's report in 2021, from operations and net profit.
Hantec Markets Group CEO Bashir Nurmohamed commented, "The broker is growing in line with the board's expectations. Considering the increasing competition and regulation in the industry and the global COVID-19 pandemic, its period results and financial performance at the end of the 2022 period are considered quite satisfactory."
By contrast, Hantec Markets highlighted a considerable operating loss of £85,367 and a final net loss of £83,968 as it was unable to maintain profitability impacted by an increase in administration costs of around £400,000 to £5.84 million. In comparison, Hantech Markets in the UK reported a modest net profit of £26,873 in 2021.
Meanwhile, the multi-asset broker remains optimistic it is in good financial shape to achieve further progress in the year ahead.