During the six months ended on June 30, 2018, operating income for the broker came in at €46.7 million ($53.5 million), a healthy increase of 37 per cent or €17.2 million compared to last year. The Net Profits for the brokerage group increased almost three times €23.7 million as compared to €6.9 million in the first half of 2017. In both revenue and net profits front, the company posted a very impressive number.
The Net Cash from operating activities also witnessed a near 100 per cent growth compared to first half of last year, coming in at €30.6 million as against €1.5 million in H1, 2017. Looking at the broker’s foreign exchange operations, it was too positive with total forex gains during the period coming in at €1.6 million. This is a positive development as XTB had no gains in the first half of 2017.
The foreign exchange loss too came down significantly during the period by almost three times to €777,290. The broker had reported forex loss of €2.9 million in the first half of last year. The total value of CFDs during the period came in at €45 million, higher by 36 per cent compared to last year’s first half. The total value of currency CFDs increased by 29 per cent to €13.5 million.
In terms of revenue for the broker, CFD instruments based on currency pairs shared 29.3 per cent of total revenue against 31.9 per cent a year earlier. The EUR/USD currency pair was the most sought-after among clients and commodity CFD also reported higher activity with value increasing by almost 45 per cent to hit €7.6 million.
During the period XTB added 10,046 new clients, an increase of 24 per cent year-on-year and also the number of active clients during the period went up by 25 per cent or 4,387 from the first half of 2017.