Compagnie Financière Tradition (CFT), a Swiss inter-professional broker and operator of a Japanese retail brokerage giant, has published its financial statements for the first quarter of 2023, reporting consolidated revenue of 271.6 million frank. It jumped 9.6% compared to 247.7 million francs the previous year. At constant exchange rates, the year-over-year increase was 14.3%.
The press release shared with finance tycoons clarified that the group’s consolidated adjusted turnover amounted to 290.5 million francs, an increase of 13% compared to the same period of the previous year.
“The level of activity in the first quarter continued in line with last year, with consolidated adjusted revenue growth of 13.0 (%) for the period at constant currencies, driven by the central bank’s monetary tightening policy to combat persistent inflation,” CFT said.
CFT divides its business into two main divisions, the inter-dealer brokerage (IDB) business and the non-inter-dealer brokerage business, which is its retail forex trading business in Japan under the Gaitame brand.
Although the Group did not disclose absolute figures for its two business divisions, it did reveal that IDB’s adjusted revenue increased by 13.3% at constant exchange rates, while the business of forex trading for retail investors in Japan (non-BID) showed a 3 percent increase.
Solid growth shown
After a lackluster 2021, CFT recorded strong growth in its activities for 2022. It closed the financial year with a reported net profit of 89.1 million francs, up 40.3% at constant currencies and 36 .5% at current currencies. Its earnings per share for the year were CHF 11.83, 34% and 30.5% higher than constant and current currencies, respectively.
“A shift in central bank monetary policy away from quantitative easing and towards rate hikes has benefited group operations,” CFT added. “This positive trend was reflected across all regions and products, particularly in FX and interest rate products and securities and security derivatives.”
Compagnie Financière Tradition (CFT), a Swiss inter-professional broker and operator of a Japanese retail brokerage giant, has published its financial statements for the first quarter of 2023, reporting consolidated revenue of 271.6 million frank. It jumped 9.6% compared to 247.7 million francs the previous year. At constant exchange rates, the year-over-year increase was 14.3%.
The press release shared with finance tycoons clarified that the group’s consolidated adjusted turnover amounted to 290.5 million francs, an increase of 13% compared to the same period of the previous year.
“The level of activity in the first quarter continued in line with last year, with consolidated adjusted revenue growth of 13.0 (%) for the period at constant currencies, driven by the central bank’s monetary tightening policy to combat persistent inflation,” CFT said.
CFT divides its business into two main divisions, the inter-dealer brokerage (IDB) business and the non-inter-dealer brokerage business, which is its retail forex trading business in Japan under the Gaitame brand.
Although the Group did not disclose absolute figures for its two business divisions, it did reveal that IDB’s adjusted revenue increased by 13.3% at constant exchange rates, while the business of forex trading for retail investors in Japan (non-BID) showed a 3 percent increase.
Solid growth shown
After a lackluster 2021, CFT recorded strong growth in its activities for 2022. It closed the financial year with a reported net profit of 89.1 million francs, up 40.3% at constant currencies and 36 .5% at current currencies. Its earnings per share for the year were CHF 11.83, 34% and 30.5% higher than constant and current currencies, respectively.
“A shift in central bank monetary policy away from quantitative easing and towards rate hikes has benefited group operations,” CFT added. “This positive trend was reflected across all regions and products, particularly in FX and interest rate products and securities and security derivatives.”
