Hirose Financial UK Ltd, the UK retail Forex broker which is a subsidiary of Japan’s Hirose Tusyo Inc., has just submitted its financial report for the fiscal year to March 31, 2015.
The numbers point to humble revenues and a net loss for the period, with the loss being even wider than a year earlier, but binary options services underpinned the interest of clients and the company saw a robust rise in client accounts opened in the period.
It is time now to take a more detailed look at the particular numbers.
- The loss after taxation for fiscal year 2015 was £831,044, compared with a loss of £768,827 recorded in fiscal year 2014.
- The operating loss for fiscal year 2015 was £831,265, compared with a loss of £769,688 seen in fiscal year 2014.
- Turnover for fiscal year 2015 was meager £410,893, which, however, was 91.4% higher than the £214,708 registered in fiscal year 2014.
Worth mentioning is that the growth in turnover was fueled by the binary options business – Hirose UK started this offering in March 2014. During fiscal year 2015, binary options services generated 58% of the turnover.- Hirose UK also enjoyed a significant (+221%) jump in client accounts as a result of binary options offering. In fiscal year 2015, these totalled 27,637, compared with 8,604 in fiscal year 2014. During the year, the broker kept improving its binary options services, including a launch of a mobile app for Android devices.
- At the end of its fiscal year 2015, Hirose UK had a cash balance of £504,396, up 89.5% from £266,109 a year earlier.
The directors of Hirose UK note it has sufficient resources to continue to operate in the future and that it has the support of its Japanese part Hirose Tusyo Inc.
To download Hirose UK’s full report for fiscal year 2015, click here.