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Screenshot of a breaking news alert e-mail from Q2 2017
Cayman Islands incorporated Hong Kong-focused FX brokerage KVB Kunlun Ltd has released a profit alert with regard to the first six months of 2014, in which the company states that the company is unlikely to report a profitable first half of 2014 for the period ending June 30, 2014.
Executive Director of KVB Kunlun Financial Group Liu Stefan highlighted to shareholders and potential investors via a publicly available announcement that they are advised to exercise caution when dealing in the shares of the company, representing a particularly grave potential result for what has been a difficult year for most FX firms across the globe in terms of revenues, with very few exceptions.
This period of continual negative revenue is contrary to last year’s fortunes, a high point for the entire FX industry worldwide, in which the company made a 43% increase in revenues over the previous year, however 2013’s increase had come subsequent to KVB Kunlun having completed an entire year of loss-making business activity in 2012.
Based on preliminary review by the board of directors of the company on the unaudited management accounts of KVB Kunlun Financial Group, the company took the decision to inform the shareholders
of the company and potential investors that the interim results of KVB Kunlun for the three months ended June 30, 2014 have improved noticeably as compared with the results of the Group for the three months ended March 31, 2014 by the increased total income.
Notwithstanding the improvement of results in the second quarter, the results for the six months ended June 30, 2014 have yet to be profitable, as compared to the results for the six months ended June 30, 2013, the reasons for the difference were set out in the announcement of the Company dated April 17, 2014.
This particular announcement is only based on the preliminary review and assessment by the board of the unaudited management accounts of KVB Kunlun Financial Group, which have not been reviewed nor audited by the Company’s auditor. The Company is in the process of finalising the unaudited interim results of the Group for the six months ended June 30, 2014. The unaudited interim results announcement of the firm for the six months ended June 30 2014 is expected to be published on or about August 7 this year.