Compagnie Financière Tradition marks steep rise in revenues in Q1 2020
Reported consolidated revenue amounted to CHF 277.3 million in the first quarter of 2020, compared with CHF 240.2 million in the year-ago quarter.
Compagnie Financière Tradition, an interdealer broker in over-the-counter financial and commodity related products, today released a revenue update for the first quarter of 2020.
The company notes the very high volatility in the financial markets in the first quarter of 2020, particularly during the month of March. This has led to a significant increase in business volumes and positive impact on the Group’s revenues.
Compagnie Financière Tradition activity grew in the first quarter with reported consolidated revenue of CHF 277.3 million compared with CHF 240.2 million in same period in 2019, up 20.5% in constant currencies. At current exchange rates, consolidated revenue presented an increase of 15.5%.
For the same period, the Group’s consolidated adjusted revenue was CHF 303.5 million, compared with CHF 263.6 million in the same period in 2019, an increase of 20.0% at constant exchange rates. The adjusted revenue from interdealer broking business (IDB) was up 20.1% in constant currencies while the Forex trading business for retail investors in Japan (Non-IDB) presented an increase of 17.9%.
The Group notes that volatility in the financial markets remains high in April.
Let’s recall that, in 2019, Group’s adjusted consolidated revenue reached CHF 1,012.4 million compared with CHF 971.7 million in 2018. This translates into a rise of 4.2% at current exchange rates, or 4.7% in constant currencies. Adjusted revenue from IDB business rose 5.0% in constant currencies to CHF 975.7 million while the Forex trading business for retail investors in Japan, Gaitame.com, was slightly down 2.7% to CHF 36.7 million.
Reported operating profit for the year was up 12.7% in constant currencies to CHF 65.3 million compared with CHF 57.9 million in 2018, for an operating margin of 7.1% and 6.5% respectively.
Consolidated net profit was CHF 64.3 million compared with CHF 55 million in 2018 with a Group share of CHF 60.4 million against CHF 50.8 million in 2018, an increase of 18.8% at constant exchange rates.
