(CFT), the parent company of Japanese retail broker Gaitame, has released its full financial accounts for the first half of 2020, ending on June 30, showing a massive 50 percent jump in the Group’s profit year-on-year to CHF 48.7 million.
The consolidated operating profits of the Group increased by 54.2 percent to CHF 58.1 million. The adjusted numbers adding the joint ventures of the Group touched CHF 75.5 million, an uptick of 37.7 percent.
The Group generated that income on consolidated revenue of CHF 512.8 million for the period, a 13.6 percent increase on the constant exchange rates, compared to the CHF 474.3 million in the similar half the previous year. Though Finance Magnates before, the Swiss Group released the account details in the latest report.
Per the detailed financials, the consolidated operating margin in H1 2020 jumped to 11.3 percent, while the adjusted figures remained 135 percent.
The Swiss headquartered company highlighted that the massive boost in the numbers was the result of the market volatility due to the COVID-19 pandemic, particularly in March.
“The significant increase in activity volumes and the positive impact on the Group’s revenues demonstrate, once again, the essential nature of Compagnie Financière Tradition’s core business, which ensures global liquidity across the various asset classes, while optimizing prices for its clients,” the Group stated in the press release.
Forex business remained dim
Last month, Finance Magnates reported that its forex trading platform adjusted revenue increased slightly by 5.9 percent on a year-on-year comparison to CHF 20.3 million. The IDB business, on the other hand, took an upward leap by 12.8 percent in constant exchange rates to generate CHF 537.7 million.
Despite the windfall growth in the first half, the Group pointed out that its business growth corrected August.
“Compagnie Financière Tradition will pursue its growth strategy whilst maintaining its focus on cost management,” the Group mentioned in its outlook section.
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