Swiss interdealer broker Compagnie Financiere Tradition SA (SWX:CFT) released its revenue report for the first quarter of 2020.
Against a backdrop of increased market volatility, Tradition’s consolidated revenue of CHF 277.3m for Q1 2020, a 20.5% increase compared to CHF 240.2m in same period in 2019. consolidated revenue presented a growth of 15.5%.
Tradition also reported consolidated adjusted revenue at was CHF 303.5m for Q1, 20% up from the same period in 2019 when it was CHF 263.6m in 2019.
The adjusted revenue from interdealer broking business (IDB) marked an increase of 20.1% in constant currencies and the forex trading business for retail investors in Japan (Non-IDB) presented an growth of 17.9%.
The company reported that the volatility levels have decreased in April, compared to March, but still remain high.
Tradition released its annual revenue report for 2019 last month. During the last year, the company observed adjusted revenue growth of 4.7% in constant currencies, reaching CHF 1,012.4m. Adjusted revenue from IDB business moved up by 5.0% in constant currencies to CHF 975.7 million and the Forex trading business for retail investors in Japan, Gaitame.com, was down slightly 2.7% to CHF 36.7 million. Adjusted operating profit before exceptional items amounted to CHF 107.9m. Net profit Group share up 18.8% to CHF 60.4m and net profit Group share were up by 18.8%, reaching CHF 60.4m.
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