Compagnie Financiere Tradition (CFT), a Swiss interdealer broker and operator of a Japanese retail broking giant Gaitame, reported a yearly jump in its third-quarter revenue with a consolidated figure of CHF 202.6 million.
That was a jump of 6.5 percent at constant Exchange rates and 9 percent at current exchange rates as the company generated only CHF 185.7 million in the same quarter of the previous year. However, the adjusted revenue of the latest quarter came in at CHF 220.5 million, which remains 6.6 percent higher.
“In the context of normalization of activity and after a decrease in the first semester [of] 2021 compared to the exceptional volumes observed in the early stages of the health crisis, activity in the third quarter was up compared to the same period last year,” the company noted.
Finance Magnates earlier reported that the company generated CHF 452 million in revenue in the first half of 2021 as its net profits declined by 24.4 percent.
Because of the cyclical headwinds, Q3 revenue of the group went down drastically from CHF 238.6 million and CHF 213.3 million generated in the first and second quarter of the year, respectively.
Boost Across Businesses
The latest CFT press release shared with Finance Magnates has elaborated that the group’s adjusted revenue from its interdealer business (IDB) went up by 6.3 percent, and the figure from non-interdealer business (non-IDB) increased by 14.3 percent, both at constant exchange rates, when compared to the previous year.
At current exchange rates, the jump in IDB and non-IDB businesses are 8.9 percent and 10.9 percent, respectively.
The consolidated nine months revenue now stood at CHF 654.6 million, 5.4 percent down from the previous year’s CHF 698.5 million. Furthermore, the adjusted numbers came in at CHF 711.5 percent with the same declining rate.
