KVB Publishes Finalised Financial Results Confirming a Bountiful Third Quarter
by
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.
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.
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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Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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