KVB Publishes Finalised Financial Results Confirming a Bountiful Third Quarter
Monday,10/11/2014|14:03GMTby
George Tchetvertakov
Finalised figures from KVB Kunlun analysing the first nine months of 2014 suggest under-performance in the first half was more than compensated by a stellar Q3. Two steps back, three steps forward.
KVB Kunlun, the Hong Kong-based broker, has published its full financial results for the first nine months of 2014, following on from their preliminary ‘hint’ late last month, as reported by Forex Magnates.
At the time, KVG’s statement said: “Based on a preliminary review by the 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.” 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.”
In actual figures published today, leveraged foreign exchange and other trading income in Q1-Q3 was HK$84,054,000 ($10.1 million) compared to HK$41,305,000 ($5.3 million) in Q3 alone. The figures do indeed indicate that the sharp revenue boost in Q3 helped KVB swing from a loss to a profit this year.
KVB Financial Results - Click to Enlarge
Overall, KVB reported a total profit of HK$20,089,000 ($2.6 million) in Q3 2014, bettering last year's performance (HK$2,691,000) over the same period by 650%. However, on a year-to-date basis, KVB reported a profit of HK$14,240,000 ($1.8 million) in the first nine months of 2014 (Q1-Q3) – a 37% year-on-year decrease.
Coincidentally, KVB reported a 37% quarterly year-on-year improvement in leveraged FX income, from HK$30,091,000 in 2013 to HK$41,305,000 in 2014. In terms of performance over the first three quarters in total, KVB suffered a 16% fall in Leverage FX income compared to 2013. The broker generated HK$100,388,000 of income in Q1-Q3 2013 but only managed HK$84,054,000 in 2014.
KVB Kunlun, the Hong Kong-based broker, has published its full financial results for the first nine months of 2014, following on from their preliminary ‘hint’ late last month, as reported by Forex Magnates.
At the time, KVG’s statement said: “Based on a preliminary review by the 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.” 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.”
In actual figures published today, leveraged foreign exchange and other trading income in Q1-Q3 was HK$84,054,000 ($10.1 million) compared to HK$41,305,000 ($5.3 million) in Q3 alone. The figures do indeed indicate that the sharp revenue boost in Q3 helped KVB swing from a loss to a profit this year.
KVB Financial Results - Click to Enlarge
Overall, KVB reported a total profit of HK$20,089,000 ($2.6 million) in Q3 2014, bettering last year's performance (HK$2,691,000) over the same period by 650%. However, on a year-to-date basis, KVB reported a profit of HK$14,240,000 ($1.8 million) in the first nine months of 2014 (Q1-Q3) – a 37% year-on-year decrease.
Coincidentally, KVB reported a 37% quarterly year-on-year improvement in leveraged FX income, from HK$30,091,000 in 2013 to HK$41,305,000 in 2014. In terms of performance over the first three quarters in total, KVB suffered a 16% fall in Leverage FX income compared to 2013. The broker generated HK$100,388,000 of income in Q1-Q3 2013 but only managed HK$84,054,000 in 2014.
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We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
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#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
