Hong Kong retail Forex broker KVB Kunlun Financial Group Ltd (HKG:8077) has earlier today published a profit warning for the nine-month period till September 30, 2015.
The Board informs the shareholders that after a review of the corporate accounts for the first nine months of 2015, profits attributable to shareholders of the broker for the period in question are forecast to be approximately 500% of those in the corresponding period a year earlier.
The Board attributed the steep rise to higher trading volume reflecting market volatility, currency translation gains and increased commission income.
KVB Kunlun posted a set of strong results for the second quarter of 2015, with revenues hitting an all-time high of HK$98.5 million. We are curious to see how the Q3 2015 metrics compare with these robust numbers, when the company announces the formal results for the first nine months of 2015 on November 6, 2015.
The profit warning sent shares in KVB up today. At the moment of publication of this article one share in the broker trades per HK$0.870, up 3.57% from yesterday’s close.
Chart source: Google Finance.
To view official announcement from KVB Kunlun, click here.