Hantec Markets Limited Suffers Operating Loss Despite Revenue Growth in 2023

Hantec Markets Limited, the UK unit of forex and CFDs brokerage Hantec Markets, has filed its financial results for the year ended 31 December 2023 with Companies House, reporting a turnover of £6,810,934, an increase of 24% from 2022’s £5,513,878. 

However, other key financial indicators show weak performance including an operating loss of £47,437 compared to an operating profit of £36,058 in 2022 and a decrease in net assets from £5,447,196 to £5,391,778.

The operating loss was caused by additional IT expenditure incurred towards the end of the year due to the introduction of a new technology strategy. The company reported an increase in administrative expenses from 2022’s £5,477,820 to 2023’s £6,858,371.

“We anticipate that this investment in the development of new technologies will contribute significantly to the future profitability of the business,” stated the filing, adding “The directors expect that the Company’s financial results next year will return to profitability.”

In the 2023 financial year, Hantec Markets Limited incurred a net loss of £55,418 compared to a net profit of £24,823 in 2022.