Compagnie Financiere Tradition Reports Jump in Net Profit Group Share

Compagnie Financiere Tradition, an inter-dealer broker and owner of Japanese retail foreign exchange and CFDs brokerage, Gaitame, has announced its financial results for the last year. The operating profit reached CHF 84.1 million in 2020, a 25% jump at constant exchange rates compared to 2019.

According to the official financial results, Compagnie Financiere Tradition reported a net profit group share of CHF 70.9 million during the last year, up 24.4% at constant exchange rates compared to 2019. The adjusted operating profit before exceptional items reached CHF 111 million, compared to 107.9 million in 2019.

Despite the recent jump in operating profit and net profit group share, the financial services provider saw a slight dip of 3.1% in adjusted revenue at current exchange rates. Adjusted revenue reached CHF 981.2 million in 2020, a 2.4% jump based on constant exchange rates.

“Business activities in 2020 took place against an unfolding health crisis caused by the COVID-19 pandemic, with strong divergences from one period to the next. Indeed, after a first half-year showing strong growth with increased volatility in the financial markets driving business volumes, notably in March. The Group subsequently observed a decrease in activity during the summer months, and more particularly in August. There was a renewed activity in November and December, with the prospect of the US elections which has not created additional volatility as could have been expected,” the company mentioned in the official announcement.

Outlook

The company highlighted that it will pursue its development strategy to further enhance its product portfolio across its geographic footprint in 2021. The firm saw a slight increase in activity during the first two months of 2021. “The average level of activity for the months of January and February shows a slight increase at constant exchange rates compared to the same period last year. However, we should see an important base effect in the month of March given the exceptional volume of activity in the same period in 2020. The optimal work environment in our businesses remains that of a pre-COVID 19 world which allows close collaboration between employees fostering a dynamic essential to the activity,” Compagnie Financiere Tradition added in the press release.

Source: Read Full Article