Tradition Profits Decline - Difficult 2012

Leading Swiss Broker Compagnie Financière Tradition has reinforced the difficult times financial markets are in as brokers keep experiencing declining volumes and profitability. Compagnie Financière Tradition reported consolidated revenue for the first nine months of the year of CHF 790.6m (US $850.1) against CHF 821.3m in the equivalent period in 2011, a decrease of 3.7% in current currencies. In constant currencies, consolidated revenue was down 8.4%.

In the 3rd quarter of 2012, consolidated revenue was down 17.7% in constant currencies compared with the same period last year.

The broker's share price is trading at 56.50 in Switzerland.

The United Kingdom and the Americas are still the Group's major areas of activity, contributing 35.1% and 28.4% of revenue respectively, against 36.5% and 28.3% in 2011. Asia accounted for 26.6% of consolidated revenue against 25.2% in 2011, while Continental Europe generated 9.9% compared with 10.0% at 30 September 2011.