Hong Kong-based KVB Kunlun has reported its interim results for the six months ending July 30, 2014, showing vastly underperforming figures for the past three and six months of the year, according to a KVB statement.
The annual report filed with the Hong Kong Exchange shows that leveraged FX dealing income has collapsed -49.1% YoY to $4.22 million (HK$32.76 million) in the past three months ending June 30, 2014. Over the past six months ending during the same period, FX dealing income has fallen -39.2% YoY to $5.15 million (HK$42.75 million).
ACY Securities Supports ASIC’s Product Intervention OrderGo to article >>
Losses Not Reserved Just for FX
The bloodletting of income was not relegated to just FX however, as total income showed uneven results in 2014 thus far. In the past three months ending June 30, 2014, total income came in at just $4.23 million (HK$32.76 million), down -48.6% YoY during the same period ending June 30, 2013. Over the past six months ending during the same period, this loss was tallied at -40.3% YoY, coming in at $7.36 million (HK$57.03 million).