Skip to content
  • Home
  • About
  • Contact
  • Page
  • ​Master SEO Tactics
  • Top 9 Finance News Websites Ranking
wikifx

wikifx

  • Home
  • About
  • Contact
  • Page
  • ​Master SEO Tactics
  • Top 9 Finance News Websites Ranking
  • Toggle search form
  • FCA unveils arrangements for orderly LIBOR wind-down at end-2021 forex news
  • Attention! Is aximtrade scam? forex news
  • Deutsche Börse successfully places EUR 500 million hybrid bond forex news
  • FX week in review: B2Prime launch, XTB revenues down, Exness volumes top $1.5T forex news
  • CME Group announces management changes forex news
  • Rakuten Securities further expands lineup of US stocks forex news
  • Xetra adds crypto ETNs on Cardano, Stellar, Tezos and a crypto basket index forex news
  • CFTC tries to locate Tradewale manager forex news

Exclusive: Spreadex CEO Jonathan Hufford steps down, as revenues rise 41% in 2021

Posted on 2021-11-08 By admin No Comments on Exclusive: Spreadex CEO Jonathan Hufford steps down, as revenues rise 41% in 2021

FNG Exclusive… FNG has learned that Spreadex founder and longtime CEO Jonathan Hufford has stepped down from his executive role at the company, handing the CEO reins over to longtime Spreadex executive David Mackenzie. Jonathan Hufford will remain on the Board as a Non-Executive Director. David Mackenzie joined Spreadex in 2003, and was appointed to the Board in 2008.

Spreadex has also hired James Hallan as the company’s new CFO. Mr. Hallan had been with William Hill the past three years, and prior to that worked at Sainsbury’s, Rio Tinto, Linklaters and KPMG.

Jonathan Hufford is leaving the company he founded more than 20 years ago in very good shape. After a tough fiscal 2020, which saw Spreadex revenues fall 8% as the company was negatively impacted at the outset of the COVID-19 pandemic, Spreadex has reported record revenues of £69.2 million for fiscal 2021 – up 41% over 2020 – and record net profits of £28.5 million. Spreadex has a May 31 fiscal year end.

Spreadex offers sports and financial spread betting to retail and professional clients, and believes that it is the only company to offer both sports and financial spread betting services. The company added that the diversity offered by this dual revenue stream continues to be invaluable to the business, especially given the recent challenges posed by COVID-19.

While as noted above the company’s 2020 fiscal year was impacted negatively at the beginning of the pandemic, mainly in its sports betting business as professional sports went on hiatus for several months, the 2021 year saw strong growth in some of Spreadex’s key performance indicators of bet numbers and active clients. The company’s performance was assisted by the conclusion of the 2019-2020 football season which fell into this financial year, followed by the full 2020-2021 season. Most of the matches were televised live at client friendly times assisting activity and profitability.

Furthermore, clients’ options for discretionary leisure spend were partially limited throughout the year by COVID-19 related restrictions and lockdowns, providing a further boost to the business. The profit converted into healthy cash flow, allowing the payment of two separate £1.09 per share dividends to shareholders – or a total of £25.1 million in dividends paid to Spreadex shareholders during the year.

Spreadex’s largest shareholders are Bourne Leisure founder Peter Harris, and company founder Jonathan Hufford.

Spreadex’s fiscal 2021 income statement and balance sheet follow:

forex news Tags:forex-news

Post navigation

Previous Post: CySEC withdraws CIF license of SonaFX operator
Next Post: Stripe builds crypto capabilities adding Matt Huang to its BoD

Related Posts

  • TradingView Desktop platform grows out of beta, reaches stable release forex news
  • FINRA fines JPMorgan Securities for failure to comply with Regulation SHO forex news
  • UK Govt consults on regulation of mini-bonds forex news
  • SEC still unable to locate founder of BitConnect forex news
  • FINRA suspends ex-UBS trader for executing trades in outside account forex news
  • Silver Lake makes strategic investment in Euroclear through ICE deal forex news

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • EUR/USD Holds Near 1.05 as Fed, ECB Policies Shape Market Sentiment
  • Gold Prices Hold Steady Amid Global Economic Uncertainty
  • Australian Dollar: How RBA Policies, Commodity Prices, and Global Tensions Are Shaping the AUD’s Market Performance
  • EUR/USD: Understanding the Currency Pair’s Trends
  • USD Under Pressure: Navigating Economic Data and Global Uncertainties

TAG

Axiory Review 2022 B2B B2Broker News Basic Forex Knowledge broker brokers brokers in the UK Brokersview Broker tools CFDs coin News cryptocurrency Cryptocurrency News Crypto News dogecoin FCA news finance forex forex-news Forex Broker Forex Brokers Forex Demo Account Forex market forex news forex scams forex time Forex trading fx fxtrader fxtrading Global Forex Gold Analysis HotForex InstaForex LiteForex Review 2022 markets work MT4 MT5 news OctaFX Review Samtrade FX South Africa trade Forex traders Trading Forex
  • ASIC cancels AFS licence of Pure Strategy forex news
  • FINRA fines Jefferies for late transaction reports forex news
  • Henyep UK changes corporate name to HYCM forex news
  • Dukascopy plans to cut leverage on RUB pairs forex news
  • CFTC and 27 state regulators take action against Safeguard Metals for $68M fraud forex news
  • Nomura Research Institute partners with Behavox on conduct risk management forex news
  • Verena Ross named ESMA Chair forex news
  • The Difference Between MT4 and MT5 Traders forex news

Copyright © 2025 wikifx.

Powered by PressBook News WordPress theme