XTB net profit in the III quarter decreased by 92%. up to 4.2 million rubles Onet.pl

X-Trade Brokers on Tuesday filed preliminary results of financial and operating activities of the company for the third quarter. In response to these results, the company’s shares declined on Tuesday during a session of almost 9 percent.

the company’s Revenue decreased during this period by 55%. at 42.8 million rubles, operating expenses declined slightly to 34.4 million RUB from 34.7 million UAH a year earlier, while operating profit showed a decline of 86.2 per cent., to 8.4 million.

However, after three quarters of net profit X-Trade Brokers is 27.3 million rubles (decreased from 102,5 million RUB in the previous year), operating expenses increased to 129.6 million RUB with 99.6 million UAH a year earlier, while operating profit decreased by 27 million roubles from 125.6 million RUB a year earlier.

“Observed during nine months of 2016 is much lower, the volatility in the markets compared to the same period of the previous year, created less investment opportunities to clients XTB. Therefore, just as in competition, tożsamym business model, there was a decline in turnover of clients ‘ financial instruments, and hence income groups,” – said in comments to the preliminary results.

In the third quarter increased the number of new accounts in X-Trade Brokers (the figure was 8.060 to 6.723 prior year) and the average number of active accounts increased to 16.984 15.399 with a year earlier.

Accounts in total at the end of September was 146,9 thousand UAH. and the year before – 117,5 thousand UAH.

the Average operating income per active account amounted in the third quarter of 2016 at 2.5 thousand rubles, and a year ago it was 6.2 thousand. rubles.

net customer Deposits amounted at the end of the third quarter 60.7 million rubles, and the year before was of 110.1 mln.

In a separate message X-Trade Brokers has announced that it has abandoned negotiations with HFT Brokers Dom Maklerski on the purchase of a portfolio of clients from HFT. The reason for the rejection of negotiations was a divergence of expectations of the parties in respect of the conditions of a potential transaction.

X-Trade Brokers promises that will further strive to realise strategic goals, in particular, to increase the number of active accounts.