FINSA Europe Sees Growth in 2019 Profit, New Brand in the Works
UK-based spread betting and CFD trading operator FINSA Europe Ltd, which operates under the trading names Financial Spreads and Financial Spreads Plus, has unveiled its financial results for the year ending November 30, 2019, The latest metrics were characterized by lower revenues and higher profits, according to its latest filing with the UK’s Companies House.
FINSA followed up on a 2018 profit of £793,397 with a £1.2 million ($1.6 million) gain for 2019, up 55 percent year-over-year. But excluding one-off tax gains, the company earned £990,827 which was higher by seven percent from a year ago.
The company also managed to increase net assets attributable to owners of its parent to £5.21 million ($6.96 million), up 23 percent compared to £4.24 million in the year prior.
Meanwhile, operating revenues at FINSA amounted to £6.8 million ($9.09 million) in 2019, down 17 percent from a reading of £8.19 million registered in 2018.
In terms of operational costs, the 2019 figure reflected a fall of 16 percent year-on-year, coming in at £5.35 million ($7.15 million) compared with £6.43 million in 2018. Accordingly, and after deducting the administrative expenses, the operating income for the year amounted to nearly £964,549 relative to £902,416 in profit for 2018.
Other business highlights show that FINSA Europe plans to launch its new brand, Trade Nation, taking a new approach to the market and providing a “much-improved service and user experience” for retail and professional traders. The company added that it is confident that the new brand will enhance the rates of retention and brand loyalty and increase levels of new client acquisition.
FINSA Europe holds trading licenses in the UK and Australia, and its core business includes Forex, CFDs and spread betting.
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