The Switzerland-based parent company of Japanese foreign exchange (forex) broker Gaitame, (CFT), has published its financial results for the fourth quarter and full year of 2019 this Friday.
According to the statement released by the company, activity during the year increased, with consolidated revenue coming in at CHF 924.1 million. This is higher than the CHF 884.7 million revenues recorded in 2018 by 5.1 per cent in constant currencies.
In terms of consolidated adjusted revenue, CFT posted revenue of CHF 1.013 billion for the whole year. Again, this is higher than the CHF 971.7 million achieved in 2018, which is 4.7 per cent higher year-on-year.
Gaitame revenues fall YoY in 2019
For the full year, adjusted revenue from interdealer broking business (IDB) was up 5.0 per cent in constant currencies on an annual comparison. The Group’s – Gaitame – however, reported a drop in adjusted revenues of 2.7 per cent.
For the second half of the year, CFT saw an increase in consolidated adjusted revenue of 6.1 per cent, when measured against the same period of the previous year. Gaitame’s revenues for the second half of the year, on the other hand, fell by 14.8 per cent on an annual comparison.
In the fourth quarter of 2019, Gaitame again reported a weak performance. Specifically, Gaitame’s revenues were lower by 17.5 per cent during the quarter, whereas its parent company reported consolidated revenue of CHF 219.0 million compared with CHF 220.7 million in the fourth quarter 2018, representing a decline of 0.2 per cent.
In , despite CFT overall reporting growth for the period, the same can’t be said for the Group’s forex trading business for retail investors in Japan, Gaitame. This is because adjusted revenue fell by 12.6 per cent year-on-year in Q3 of 2019.
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