House of Borse Sees Profits Surge Significantly for FY22

House of Borse Ltd, a UK FCA regulated broker, has released its financial results for the financial year 2022 ended on July 31 (FY22), unveiling that its profits jumped significantly.

Specifically, according to the latest Company House filing, the broker's operating and pre-tax profit rose to £274,698 from the prior year's £13,565. The net profit increased 1,398% on a yearly basis to £222,323.

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Regarding turnover, the figure stood at £1.02 million, growing 71% year-over-year, mainly contributed by commissions earned from forex and other derivatives trading by its clients. Besides, the equity shareholders' fund came in at £901,649, up 33% on a yearly basis, which was driven by the rising profits.

"House of Borse had another profitable year, with the firm registering a record profit for the financial year 2021/22. The management expect this trend to continue and with an appreciable increase in the client on-boarded in recent months," the Companies House filing stated.