Gaitame Parent Sees YoY Rise in Q2 Adjusted Revenue

<p>Compagnie Financière Tradition (CFT), a Swiss interdealer broker and operator of a Japanese retail broking giant Gaitame, ended the first six months of 2023 with reported consolidated revenue of CHF 513.3 million, which went down by 6.1 percent at current exchange rates but increased by 12.5 percent at the constant exchange rate.
</p><p>CFT’s Revenue for Q2
</p><p>The revenue went down quarter-over-quarter as the figure came in at CHF 241.7 million between April and June. In the first quarter of the year, the <a href="https://www.financemagnates.com/tag/compagnie-financiere-tradition/">Swiss group company</a> generated CHF 271.6 million, Finance Magnates reported earlier. However, the second quarter’s performance improved year-over-year as the revenue was CHF 236.2 million in Q2 2022.
</p><p>Its consolidated adjusted revenue for the six months came to be CHF 552.4 million, compared to CHF 525.1 million in the same period in the previous year, showcasing an increase of 11.8 percent in the constant exchange rate. The Group’s consolidated adjusted revenue for Q2 was CHF 261.9 million against CHF 256.4 million in 2022.
</p><p>Two Business Divisions
</p><p>CFT divides its business into two primary divisions, the interdealer broking business (IDB) and the non-interdealer broking business, which is its retail forex trading business in Japan under the brand <a href="https://www.financemagnates.com/tag/gaitame/">Gaitame</a>.
</p><p>The adjusted revenue from the IDB division of CFT was up 11.6 percent year-over-year at constant exchange rates in the six months, while the forex trading business for retail investors in Japan, which is considered as non-IDB, presented an increase of 18.7 percent. The figure for the second quarter increased by 10.5 percent for IDB and 34 percent for non-IDB.
</p><p>Meanwhile, CFT has launched a <a href="https://www.financemagnates.com/forex/gaitame-parent-to-launch-a-3-year-long-share-buyback-program/">share buyback program </a>to optimize its capital allocation. The program was about to start in June 2023 and run until May 2026 at the latest, under which the Group planned to buy back up to 300,000 shares.
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This article was written by Arnab Shome at www.financemagnates.com.