Hirose UK revenues have more than doubled in the financial year ending on the 31st of March 2016 to mark £928,000, when compared to about £411,000 for the same period in 2015. The UK subsidiary of the Japanese company has been offering trading services to clients interested in foreign exchange, CFDs and binary options.
Hirose UK’s subsidiary is overseen both by the UK financial regulator FCA and by the UK Gambling Commission for the company’s binary options business. The firm has been one of the few Japanese players to persistently commit to expansion outside of their home market.
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The company’s LION Binary-Pro platform based on HTML5 alongside with a redesigned website making it easier for clients to deposit and withdraw funds have been the key points of growth for the firm throughout the year.
While the firm’s revenues have spiked higher, the marketing cost which Hirose UK committed to onboarding and retaining clients has also increased. As a result, the firm has spent over £1.4 million, which is higher by 13 percent when compared to the previous year.
With rising efficiency of the company’s administrative expenses, the firm could be on track to post its first positive results during the current fiscal year. The total loss for the year ending on the 31st of March 2016 was £477,500, a figure which is lower by over 42 per cent when compared to the same period of the previous fiscal year.