Retail Forex broker Monex Group, Inc. (TYO:8698) has earlier today posted some financial metrics for August 2015, with revenues marking continued rise in both monthly and annual terms, pointing to the fact that the company has managed to take advantage of the increased market volatility last month.
In addition, the continued efforts of the broker to slash expenses seem to be bringing results, as financial expenses fell 15.2% from July 2015 levels.
Let’s examine the particular metrics for August 2015:
- Operating revenues amounted to JPY 5.4 billion ($44.8 million), up 5.7% from the result recorded in July 2015. The result for August 2015 was 40% higher than in August 2014.
- Financial expenses in August 2015 amounted to JPY 379 million, down 15.2% from the JPY 447 million registered in July 2015. In annual terms the cut was 18.5%.
- Operating revenues minus financial expenses amounted to JPY 5.02 billion in August 2015, up 7.7% from the result recorded in July 2015 and up 47.7% from the result recorded in August 2014.
The robust financial result that Monex posted for August 2015 is in tune with a 9.6% month-on-month rise in global Forex volumes the broker registered last month, as it benefited from increased market volatility. Revenues that other Japanese Forex brokers, like GMO Click and Invast Securities, reported for August were also strong, registering a rise of 7% month-on-month and 12% month-on-month, respectively.
Monex Group’s financial results:
To view Monex’s official announcement on the financial metrics for August 2015, click here.