Hirose Financial UK Ltd., the provider of online retail
foreign exchange trading services, published its annual financials for the
period ended on 31 March 2024, revealing notable improvements in several key
financial metrics.
Revenue Increases
According to the Companies House filing, the company
recorded a turnover of £717,430, which represents a 1.03% increase from
£710,084 in 2023. This modest growth in revenue underscores a positive trend in
the company’s business activities.
Administrative expenses for 2024 were reported at £431,865,
reflecting a slight decrease of 0.13% from £432,468 the previous year. This
reduction in administrative costs contributed to an improved operating profit,
which reached £285,565 in 2024, up by 1.03% from £282,712 in 2023.
Profit before tax for the year amounted to £303,103, showing
a 2.64% increase from £295,298 in 2023. The net profit for the year saw a
substantial rise of 79.70%, reaching £530,413 compared to £295,298 in the
previous year.
“The Company operates in a very competitive marketplace that
is characterised by an evolving regulatory environment that includes new
leverage and negative balance regulations,” the filing stated.
“Management is working to ensure compliance with the higher
standard of regulatory requirements while continuing to seek more efficient and
effective ways to acquire customers. The company will continue to focus B to B
market opportunities in order to increase the number of institutional traders
using our services.”
Hirose Financial UK Ltd., the provider of online retail
foreign exchange trading services, published its annual financials for the
period ended on 31 March 2024, revealing notable improvements in several key
financial metrics.
Revenue Increases
According to the Companies House filing, the company
recorded a turnover of £717,430, which represents a 1.03% increase from
£710,084 in 2023. This modest growth in revenue underscores a positive trend in
the company’s business activities.
Administrative expenses for 2024 were reported at £431,865,
reflecting a slight decrease of 0.13% from £432,468 the previous year. This
reduction in administrative costs contributed to an improved operating profit,
which reached £285,565 in 2024, up by 1.03% from £282,712 in 2023.
Profit before tax for the year amounted to £303,103, showing
a 2.64% increase from £295,298 in 2023. The net profit for the year saw a
substantial rise of 79.70%, reaching £530,413 compared to £295,298 in the
previous year.
“The Company operates in a very competitive marketplace that
is characterised by an evolving regulatory environment that includes new
leverage and negative balance regulations,” the filing stated.
“Management is working to ensure compliance with the higher
standard of regulatory requirements while continuing to seek more efficient and
effective ways to acquire customers. The company will continue to focus B to B
market opportunities in order to increase the number of institutional traders
using our services.”
This post is originally published on FINANCEMAGNATES.
