Compagnie Financière Tradition's Revenue Rises 3.2% in Q3, Gaitame Dips

<p dir="ltr">Compagnie Financière Tradition (SWX: CFT), an inter-dealer broker and operator of a Japanese retail foreign exchange (forex) trading platform, closed the third quarter of 2023 with a consolidated revenue of CHF 225 million. The figure declined 3.2 percent compared to the corresponding quarter of the previous year.</p><p dir="ltr">Strong Overall Figure</p><p dir="ltr">According to the latest released official numbers, the Group's consolidated adjusted revenue for the three months came in at CHF 241.1 million against CHF 252.6 million in the previous year, a decline of 4.8 percent.</p><p dir="ltr"><a href="https://www.financemagnates.com/tag/compagnie-financiere-tradition/">CFT </a>is headquartered and listed in Switzerland and operates an interdealer broking venue. It also manages Gaitame, one of the latest retail forex brokers in Japan.</p><p dir="ltr">In the official announcement, the Swiss Group detailed that the revenue from the interdealer broking business increased 2.6 percent between July and September. However, the non-interdealer brokering business, which is mainly the Japanese retail brokerage business, declined 6.3 percent.</p><p dir="ltr">"The strong international footprint of the Group's activities had a significant currency effect on consolidated revenue over the period due to the strengthening of the Swiss franc, notably against the US dollar, the pound sterling, and the Japanese yen, which increased during the 3rd quarter, particularly against the US dollar and yen," the official announcement stated.</p><p dir="ltr">Optimism Continues</p><p dir="ltr">Apart from the third quarter's numbers, the level of activity on the platforms operated by CFT is up by nearly 9 percent in constant exchange rate in October, compared to the corresponding month of the previous year.</p><p dir="ltr">The Swiss Group also reported <a href="https://www.financemagnates.com/forex/compagnie-financire-tradition-sees-419-uptick-in-operating-profit-in-h1-2023/">strong results in the first half of 2023</a>. In the six months, its revenue increased 11.8 percent to CHF 552.4 million and operating profit escalated 41.9 percent to CHF 74 million. The net profit for the period stood at CHF 54 million.</p><p dir="ltr">Meanwhile, CFT is buying back its ordinary shares, intending to repurchase up to 300,000 bearer shares, equivalent to a maximum of 3.91 percent of the share capital. The <a href="https://www.financemagnates.com/forex/compagnie-financire-tradition-gaitame-parent-kicks-off-share-buyback-program/">buyback program program</a> started last August and is still ongoing.</p>

This article was written by Arnab Shome at www.financemagnates.com.