UOB-Kay Hian has reported earnings of $104.4 million for FY2022, down by a third over the preceding year ended Dec 31 2021.

Revenue in the same period was down 20.9% y-o-y, because of overall drop in trading volume with "reduced retail participation".

The company plans to pay a first and final dividend of 6 cents for FY2022. For FY2021, 8.8 cents was paid.

"Global capital markets continued to operate in a challenging environment amid continued pressures in the general macro environment," says the brokerage in its earnings commentary.

"Increases in Federal Reserve rate and high inflation have also adversely affected the Group’s business activities in 2022."

"While the markets remain uncertain, we maintain a focus on prudent risk management and vigilant cost controls, while continuing to invest in our infrastructure as we prepare for the eventual market recovery," adds UOB-Kay Hian.

<span class='see_also_inread'><b>See also: <a class='gtm_see_also_1_inread' style='text-decoration: underline;' href='/capital/results/vicplas-reports-521-lower-profit-after-tax-42-mil-fy2023?utm_source=website&utm_medium=article&utm_campaign=ONPAGESEO'>Vicplas reports 52.1% lower profit after tax of $4.2 mil for FY2023</a></b></span>

UOB-Kay Hian shares closed at $1.42, down 0.7%.

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