Hirose UK Reports 50% YoY Decline in Turnover in FY2022

Fazzaco learned that Hirose Financial UK Ltd., an online provider of retail foreign exchange trading services, has released its financial results for the fiscal year 2022, ending on March 31, 2022, revealing a decline in turnover on a yearly basis.

More specifically, the UK-based broker registered a turnover of £348,627, down by 50% compared to FY2021's £696,159. Administrative expenses increased from £241,387 to £289,971. The raise in the expenses was primarily due to the increase in salaries. 

Moreover, profit for the year, after taxation, came in at £59,039. This number for 2021 was £464,915. Client deposits totaled £2.0 million, increased from the previous year's deposits of £1.03 million.