Financial service provider Swissquote reported increased trading activity in the first half of the financial year.
As the fist months of 2020 were marked by increased market volatility, Swissquote’s trading platforms registered increase inflow of new customers driving the performance of the company up. Swisquote reported 40% growth in net revenues for the first half of the year and over 120% of pre-tax profit compared to the previous year.
Swissquote estimated the net revenues of the first half of the year to be CHF 160 million, compared to CHF 112.2 million for the same period in 2019. Pre-tax profit reached over CHF 56 million for the first half of this year, compared to CHF 25.1 million compared to first half of 2019.
In the 2020 outlook the company released in March this year, Swissquote anticipated net revenues and profitability with about 10% increase. The company revised their outlook which will be published with the full results of the half year in August.
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