XTB’s 9-month group net profit drops 75% on back of low operating income

XTB’s 9-month group net profit drops 75% on back of low operating income

- in All News, Featured News, Forex Brokers

Polish forex brokerage X-Trade Brokers, trading as XTB (WSE:XTB) generated a consolidated net profit of €6.2 million in January-September 2016, posting a drop of 74.7% from €24.7 million a year earlier, according to a filing with the Warsaw Stock Exchange (WSE) published on Monday. The drop comes on the back of a decline of 33.7% in consolidated operating income to €35.9 million in the nine-month period.

The broker’s consolisated assets also declined to €160.9 million at the end of September from €170.6 million at end-2015.

Polish-based X-Trade Brokers Dom Maklerski as the holding company of the XTB group, which  operates units regulated by the UK Financial Conduct Authority (FCA) and Poland’s Financial Supervision Authority (KNF). The brokerage offers trading in more than 50 spot forex pairs, indices, shares, commodities, and exchange traded fund (ETFs). Two trading platforms are available with the broker – its proprietary xStation and MetaTrader 4 (MT4).

The holding company debuted on the WSE in early May 2016 with the release of some 117.4 million shares. Currently, the broker’s market capitalization stands at nearly PLN 934.4 million.

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