Compagnie Financière Tradition registers rise in revenues in Q1 2022
Interdealer broker Compagnie Financière Tradition today posted some key financial results for the first three months of 2022.
The average level of activity for the first quarter showed an increase compared to the same period last year, the company noted.
Compagnie Financière Tradition reported consolidated revenue of CHF 247.7m in the first quarter 2022 compared with CHF 238.6m in same period in 2021, up 3.8% at current exchange rates. At constant exchange rates, consolidated revenue presented an increase of 3.7%.
For the same period, the Group’s consolidated adjusted revenue was CHF 268.7m compared with CHF 259.2m in 2021, an increase of 3.8% at constant exchange rates.
The adjusted revenue from interdealer broking business (IDB) was up 3.6% at constant exchange rates while the Forex trading business for retail investors in Japan (Non-IDB) presented an increase of 8.5%.
For the full year 2021, the Group’s consolidated adjusted revenue was CHF 950.8 million compared with CHF 981.2 million in 2020, a decrease of 2.5% at constant exchange rates. The adjusted revenue from interdealer broking business (IDB) was down 2.8% at constant exchange rates to CHF 917.0m while the Forex trading business for retail investors in Japan (Non-IDB) presented an increase of 3.8% to CHF 33.8 million.
Adjusted operating profit before exceptional items was CHF 99.9m against CHF 111.0m in 2020, down 8.0% at constant exchange rates for an operating margin of 10.5% and 11.3% respectively. Net exceptional costs represented CHF 5.8m down from CHF 10.5m in the previous year.
Consolidated net profit was CHF 71.5m compared with CHF 74.6m in 2020 with a Group share of CHF 65.3m against CHF 70.9m in 2020, down 5.5% at constant exchange rates.