Hong Kong Forex broker KVB Kunlun Financial Group Ltd (HKG:8077) has just reported its financial metrics for the third quarter and the first nine months of 2015, with the company boasting a record-setting quarter.
Revenues for the three months to September 30, 2015 hit record high, reaching HK$157.3 million (US$20.3 million). The result is 59.7% higher than the one seen in the second quarter of 2015, which was also very successful for the company. The annual comparison is also pretty favorable, with Q3 2015 revenues up massive 160% from the result for the three months to September 30, 2014.
The third quarter of 2015 was also the most profitable one in KVB’s history. Net income for the period totalled HK$ 28.3 million, up 86.2% from the preceding quarter and up 177.5% from a year earlier.
The numbers for the nine months confirmed the optimistic forecast the company has published last month.
KVB reported total income of approximately HK$312.0 million for the nine months ended 30 September 2015, representing an increase of approximately 165% from approximately HK$117.6 million for the corresponding period of the previous year. The Group recorded a profit of approximately HK$74.5 million for the nine months ended 30 September 2015 as compared to the profit of approximately HK$14.2 million for the corresponding period in last year.
The robust results were attributed to the higher volatility and higher trading volume in the foreign exchange and commodity markets during the period in question.
For the complete KVB Q3 2015 financial report click here.