Compagnie Financière Tradition reports rise in revenues in H1 2020
Tradition noted the increasing volume of activity on the financial markets and its positive impact on the Group’s revenues.
Compagnie Financière Tradition, an interdealer broker in over-the-counter financial and commodity related products, today reported growth in revenues for the first semester of 2020.
Tradition saw activity grow in the first semester with reported consolidated revenue of CHF 512.8 million compared with CHF 474.3 million in same period in 2019, up 13.6% in constant currencies. At current exchange rates, consolidated revenue presented an increase of 8.1%.
For the same period, the Group’s consolidated adjusted revenue was CHF 558 million, compared with CHF 520.5 million in 2019, an increase of 12.5% at constant exchange rates. The adjusted revenue from interdealer broking business (IDB) was up 12.8% in constant currencies while the Forex trading business for retail investors in Japan (Non-IDB) presented an increase of 5.9%.
In the second quarter of 2020, consolidated revenue was CHF 235.5 million compared with CHF 234.1 million in the second quarter 2019, representing an increase of 6.6% in constant currencies. The Group’s consolidated adjusted revenue was CHF 254.5 million against CHF 256.9 million in 2019, up 4.9% in constant currencies with IDB up 5.4% and Non-IDB down 7.7%.
Tradition noted the increasing volume of activity on the financial markets and its positive impact on the Group’s revenues.
As FinanceFeeds reported, Tradition registered robust results in the first quarter of 2020, thanks to 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.
In the first quarter of 2020, reported consolidated revenue was CHF 277.3 million compared with CHF 240.2 million in same period in 2019, up 20.5% in constant currencies.
