Tavira Securities Sees Turnover Rise in FY22, But Profits Fall

Tavira Securities (Tavira), an independent global financial services broker, has released its financial metrics for the financial year of 2022(FY22), showing a year-over-year increase of 48% in turnover, with the figure at £24.0 million, compared to that of last year at £16.2 million.

The broker's gross profit for FY22 came in at £9.7 million, up 47% from £6.6 million in FY21. While the profit for the financial year decreased 38% on a yearly basis to £435, 717, with total comprehensive income down 54% to £423, 221.

Besides, Tavira saw a dip of 7% in traditional brokerage revenues in the year, but significant increases in Contracts for Difference and Custody & Clearing, which were 231%, and 145%, respectively.