Business
TOP Financial Group Limited Announces 63% and 178% Year-Over-Year Growths in Revenue and Net Profit
Hong Kong China, Oct. 31, 2022 (GLOBE NEWSWIRE) -- TOP Financial Group Limited (the "Company") (NASDAQ: TOP), a fast-growing online brokerage firm located in
About this update from Top Financial Group Limited
[{"type":"text","content":"Hong Kong China, Oct. 31, 2022 (GLOBE NEWSWIRE) -- TOP Financial Group Limited (the \"Company\") (NASDAQ: TOP), a fast-growing online brokerage firm located in Hong Kong specializing in the trading of local and foreign equities, futures, options products and other financial services, today announced the preliminary results for the six months ended September 30, 2022. The Company cautioned that these financial results have not been audited or reviewed by the Company’s independent registered public accounting firm and may have discrepancies in connection with further reviews by the independent registered public accounting firm of the Company. Six Months Ended September 30, 2022 Operational and Financial Highlights : Total revenues were US$5.2 million, representing an increase of 63% from US$3.2 million for the six months ended September 30, 2021Net profit was US$2.5 million, representing an increase of 178% compared with net income of US$0.9 million for the six months ended September 30, 2021.Total number of total registered customers were 304, representing an increase of 4.8% from 290 as of September 30, 2021. Mr. Ka Fai Yuen, CEO of the Company commented: “We are encouraged by our strong revenue and net profit growths in the first half of fiscal 2022, as we benefit from both our outstanding execution capabilities and the soundness of our business strategies. With the launch of our new business initiative and our continuous efforts in expanding our customer base, we are confident that our business momentum will continue and expect the significant increase in our revenue and net profit in 2023.” Business Outlook According to our strong revenue and net profit growth in the first half of fiscal 2022 and the forecast we made at the beginning of 2022, for the fiscal year ended March 31, 2023, the Company expects total revenues to be between US$9.75 million to US$10.53 million, representing year-over-year growth of 25% to 35%. For the six months ended September 30, 2023, the Company expects total revenues to be between US$6.5 million to US$7 million, representing year-over-year growth of 25% to 35%. This forecast reflects the Company’s current and preliminary views on the market and operational conditions, which are subject to change. About TOP Financial Group Founded in Hong Kong, the Company, through its operating subsidiaries, opera...