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Screenshot of a breaking news alert e-mail from Q2 2017
Hong Kong Forex broker KVB Kunlun Financial Group Ltd (HKG:8077) has just released its financial metrics for the year to December 31, 2015, with favourable trading conditions helping the company see a steep rise in revenues and profits in the period.
The numbers were barely surprising after the broker issued a positive profit alert in February.
Let’s examine the particular metrics.
Total income for 2015 amounted to HK$406.8 million, up 115.7% from the result of HK$188.6 million registered in 2014.
The income numbers were supported by the robust performance of the Forex segment, as leveraged Forex and other trading income reached HK$343.1 million in 2015, up 137% from 2014 levels. The company noted the positive impact of the return of volatility to FX markets last year.
EUR/USD and XAU/USD were the most popular trading products during the year under review, followed by GBP/USD, AUD/USD and CHINA300.
Operating profit for the year was HK$130.2 million, up 173% year on year.
Net profit was HK$94.7 million in 2015, up 170% from HK$35.1 million in 2014.
The broker attributed the increase in profits to higher market volatility and higher trading volume which resulted in higher leveraged foreign exchange and other trading income, as well as to higher transaction volume resulting in higher fee and commission income.
KVB plans to:
- expand operations in the worldwide overseas Chinese and Japanese communities;
- boost financial services and products;
- further upgrade its online trading platform;
- strategically grow through mergers and acquisitions.
You can view the full announcement from KVB Kunlun by clicking here.