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Compagnie Financière Tradition reports rise in revenues in Q3 2021

Posted on 2021-10-29 By admin No Comments on Compagnie Financière Tradition reports rise in revenues in Q3 2021

Swiss interdealer broker Compagnie Financière Tradition today provided a trading update for the third quarter of 2021.

In the context of normalization of activity and after a decrease in the first semester 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, Tradition explains.

Compagnie Financière Tradition reported consolidated revenue of CHF 202.6 million for the third quarter of 2021, compared with CHF 185.7 million in 2020, representing an increase of 6.5% at constant exchange rates.

For the same period, the Group’s consolidated adjusted revenue was CHF 220.5 million, compared with CHF 202.4 million in 2020, up 6.6% at constant exchange rates with IDB up 6.3% and Non-IDB up 14.3% respectively.

At current exchange rates, consolidated revenue would increase by 9.0%, of which 8.9% and 10.9% for the IDB and Non-IDB respectively.

Over the first nine months of the year, reported consolidated revenue was CHF 654.6 million compared with CHF 698.5 million in the same period in 2020, down 5.4% at constant exchange rates. The Group’s consolidated adjusted revenue was CHF 711.5 million against CHF 760.4 million in 2020, down 5.4% at constant exchange rates with interdealer broking business (IDB) down 5.4% and the forex trading business for retail investors in Japan (Non-IDB) down 6.3%.

Let’s recall that, in the first half of 2021, Tradition registered consolidated net profit of CHF 39.1 million in the first half of 2021, compared with CHF 51.5 million in the first half of 2020 with a Group share of CHF 35.5 million against CHF 48.7 million in 2020, down 24.4% at constant exchange rates.

The Group reported consolidated revenue (IFRS) of CHF 452.0 million against CHF 512.8 million in the first half of 2020, down 9.9% at constant exchange rates.

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