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Screenshot of a breaking news alert e-mail from Q2 2017
Hong Kong based retail forex broker KVB Kunlun Financial Group Ltd (HKG:8077) has provided a summary trading update regarding its Q4 and 2014 full year financial results. But basically, there was no new news in the update.
KVB reported that second-half 2014 will be a significant improvement over second-half 2013, as well as a turnaround from the losses the company suffered during the first half of this year.
But we already knew that.
The company reported an amazing comeback during Q3 (see graph below), which saw revenues top HK$60 million (about USD $8 million) which was more than Q1 and Q2 revenues combined. And KVB’s Q3 net income of HK$10.2 million (USD $1.3 million) more than erased KVB’s first half loss of HK$5 million.
Unless Q4 went off the rails, it is clear that second half 2014 will easily beat the first half of the year or the second half of least year.
KVB didn’t give any update on its potential takeover by a still-unnamed acquirer. The last we heard, reported exclusively by LeapRate on January 20, the (potential) acquirer is still knee deep in due diligence on KVB, but still hadn’t made a decision on whether or not to move forward with a deal.
KVB shareholders continue to bet on a deal getting done – and on it being at a price well above the HK$0.65 per share originally offered. KVB shares closed Friday at HK$1.14 per share.
To see KVB’s 2014 results trading update click here.