XTB Q4 profit drops

WSE-listed brokerage XTB estimates that its consolidated net profit in the fourth quarter dropped to PLN 32.4 million from PLN 50.4 million a year earlier, the company said in its preliminary financial report. The group's operating profit in the fourth quarter dropped to PLN 37.4 million from PLN 55.1 million in the same period a year ago. Revenues from the brokerage office decreased to PLN 75.5 million from PLN 94 million a year earlier. Throughout 2017, XTB net profit increased by 19.8 percent to PLN 93.1 million. Operating profit increased by 56.4 percent y/y to PLN 128.4 million. Consolidated revenues amounted to PLN 273.8 million compared to PLN 250.6 million a year earlier. In 2017, XTB the number of customer accounts increased by 50.7k bringing the total count to 204k.