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Forex news -forex broker review => Forex => Topic started by: forex4you on Sep 02, 2022, 08:27 am

Title: Compagnie Financière Tradition Posts 46.4% Jump in H1 Profits
Post by: forex4you on Sep 02, 2022, 08:27 am
Compagnie Financière Tradition Posts 46.4% Jump in H1 Profits

<p>Compagnie Financière Tradition (CFT), a Swiss interdealer broker and operator of a Japanese retail broking giant, reported a net profit of CHF 51.1 million for the first half of 2022. The figure jumped 46.4 percent at constant exchange rates, while at current exchange rates, the surge came in at 44 percent.</p><p>The <a href="https://www.financemagnates.com/forex/brokers/compagnie-financire-tradition-posts-q1-growth-gaitame-revenue-jumps-85/" target="_blank">revenue </a>of the company came in at CHF 483.9 million, compared to CHF 452 million in the same period of the previous year. It was a rise of 7.1 percent and 7.5 percent on current and constant exchange rates, respectively.</p><p>Its adjusted revenue stood at CHF 525.1 million. While the interdealer broking business (IDB) of CFT generated CHF 507.5 million in revenue from the Japanese retail online <a href="https://www.financemagnates.com/terms/f/forex-trading/" target="_blank" id="258a569f-bf49-4a61-a1b4-bc352d76141f_1" class="terms__main-term">forex trading</a> business.</p><p>Gaitame, came in at CHF 17.6 million, a jump of 17.5 percent.</p><p>"A shift in central-bank monetary policy, away from quantitative easing and rate hikes, was beneficial for the Group's operations," the company's press release shared with Finance Magnates stated. "This positive trend was reflected in all regions, and particularly in foreign exchange and interest rate products and securities and security derivatives."</p><p>Additionally, <a href="https://www.financemagnates.com/tag/compagnie-financiere-tradition/" target="_blank">CFT</a> highlighted that the massive jump in profits was due to the positive impact of exchange rate fluctuation. It gained CHF 14.4 million due to the movement of the n ruble, compared to a loss of CHF 0.5 million in the previous year.</p><p>The company's operating profit did not change <a href="https://www.financemagnates.com/forex/compagnie-financiere-tradition-sees-25-drop-in-2021-adjusted-revenue/" target="_blank">over the year</a> as it remained at CHF 43.9 million. However, the operating margin declined to 9.1 percent from 9.7 percent. This figure, on an adjusted basis, was CHF 69.3 million.</p><p>Bullish Outlook</p><p>Furthermore, the Swiss group is bullish on its future outlook. The central-bank monetary tightening policy for tackling inflation already pushed the activities on its platform in July and August up by 15 percent.</p><p>"Compagnie Financière Tradition will pursue its growth strategy and cost discipline while maintaining investment in its data and <a href="https://www.financemagnates.com/terms/a/analytics/" target="_blank" id="0cd41468-7088-4154-93a3-bf5c46f15957_1" class="terms__secondary-term">analytics</a> activities and hybrid broking capabilities," CFT added.</p>

This article was written by Arnab Shome at www.financemagnates.com.

Source: Compagnie Financière Tradition Posts 46.4% Jump in H1 Profits (https://www.financemagnates.com/forex/brokers/compagnie-financire-tradition-posts-464-jump-in-h1-profits/https://www.financemagnates.com/forex/brokers/compagnie-financire-tradition-posts-464-jump-in-h1-profits/)