Compagnie Financière Tradition (CFT), a Swiss intermediary broker and operator of a Japanese retail brokerage giant, closed the 2022 financial year with a reported net profit of 89.1 million francs, up 40.3% at constant currencies and 36.5% in current currencies. It proposed a dividend distribution of CHF 5.5 per share at a yield of 5%.
According to the press release shared with finance tycoonsgroup earnings per share for the year were CHF 11.83, compared to CHF 8.76 in 2021. They increased by 34% and 30.5% respectively in constant and current currencies.
Most of the group’s profits were made in the first half of the year. Between January and June, it recorded a net profit of 51.1 million francs, or 38 million francs in the second half of the year.
“A shift in central bank monetary policy away from quantitative easing and towards rate hikes benefited the group’s operations. This positive trend was reflected across all regions and products, particularly in foreign exchange and interest rate products and securities and security derivatives,” the noted group said.
“As the easing of Covid-19 measures, the gradual return to the office in trading rooms has also benefited our business and generally allowed financial markets to operate more efficiently.”
Profits through strong revenue
Earlier, CFT announced its reported consolidated revenue for 2022 at 947.4 million francs, up 10.5% at constant exchange rates, after closing the fourth quarter with 231.1 million francs. The adjusted figure increased by 10.6% to 1.02 billion francs.
The group generated an operating profit of 94.2 million francs for the year, up 29.1%, with a margin of 9.9%, improving on the 8.9% of the last year. Adjusted operating profit before exceptional items amounted to 130.3 million francs compared to 99.9 million francs in 2021, with a margin of 12.7%. It recorded a pre-tax profit of 120.1 million francs, up 44.6%.
Profits were generated after a net financial charge of CHF 3.7 million compared to CHF 10.8 million the previous year. The group also gained CHF 5 million from movements in the rouble, compared to a loss of CHF 1.7 million the previous year.
Bullish outlook
CFT is now optimistic with its outlook for 2023, as business has already strengthened by 10% in January, “pushed by the central bank’s monetary tightening policy to combat stubborn inflation”.
“Compagnie Financière Tradition will pursue its growth strategy and cost discipline, while maintaining its investments in its data and analytics activities and its hybrid brokerage capabilities,” the group added.
Compagnie Financière Tradition (CFT), a Swiss intermediary broker and operator of a Japanese retail brokerage giant, closed the 2022 financial year with a reported net profit of 89.1 million francs, up 40.3% at constant currencies and 36.5% in current currencies. It proposed a dividend distribution of CHF 5.5 per share at a yield of 5%.
According to the press release shared with finance tycoonsgroup earnings per share for the year were CHF 11.83, compared to CHF 8.76 in 2021. They increased by 34% and 30.5% respectively in constant and current currencies.
Most of the group’s profits were made in the first half of the year. Between January and June, it recorded a net profit of 51.1 million francs, or 38 million francs in the second half of the year.
“A shift in central bank monetary policy away from quantitative easing and towards rate hikes benefited the group’s operations. This positive trend was reflected across all regions and products, particularly in foreign exchange and interest rate products and securities and security derivatives,” the noted group said.
“As the easing of Covid-19 measures, the gradual return to the office in trading rooms has also benefited our business and generally allowed financial markets to operate more efficiently.”
Profits through strong revenue
Earlier, CFT announced its reported consolidated revenue for 2022 at 947.4 million francs, up 10.5% at constant exchange rates, after closing the fourth quarter with 231.1 million francs. The adjusted figure increased by 10.6% to 1.02 billion francs.
The group generated an operating profit of 94.2 million francs for the year, up 29.1%, with a margin of 9.9%, improving on the 8.9% of the last year. Adjusted operating profit before exceptional items amounted to 130.3 million francs compared to 99.9 million francs in 2021, with a margin of 12.7%. It recorded a pre-tax profit of 120.1 million francs, up 44.6%.
Profits were generated after a net financial charge of CHF 3.7 million compared to CHF 10.8 million the previous year. The group also gained CHF 5 million from movements in the rouble, compared to a loss of CHF 1.7 million the previous year.
Bullish outlook
CFT is now optimistic with its outlook for 2023, as business has already strengthened by 10% in January, “pushed by the central bank’s monetary tightening policy to combat stubborn inflation”.
“Compagnie Financière Tradition will pursue its growth strategy and cost discipline, while maintaining its investments in its data and analytics activities and its hybrid brokerage capabilities,” the group added.