Hong Kong-based broker, KVB Kunlun, has published a preliminary hint of its financial performance over the past 9 months. In a media release titled ‘Inside Information’ the broker announces a sharp swing from a net loss between January 2014-July 2014 to a net profit year-to-date. The first half of the year’s underperformance was more than compensated for by a stellar Q3 according to KVB’s Executive Director, Liu Stefan.
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“Based on a preliminary review by Board of Directors on unaudited management accounts, the Group is expected to record a net profit for the 8 months ended 30 September 2014 as compared to a net loss for the first 6 months ended 30 June 2014.” according to the KVB statement. Adding, “Such improvement was mainly due to the increase in leveraged foreign exchange and other trading income earned from external customers during the three months period from July 1, 2014 to September 30, 2014.”
It is worth underlining that this announcement is only based on preliminary figures and assessment by the KVB’s Board of unaudited management accounts that have not been confirmed nor audited by the Company’s auditors. However, the early hint does fit in with the broad improvement among all margin trading brokers in September.
Official and finalised results are due to be published on November 10th, 2014.