Gaitame Revenues Fall by 12.6% YoY in Third Quarter of 2019

The Switzerland-based parent company of Japanese foreign exchange (forex) broker Gaitame, (CFT), has published its financial results for the third quarter and first nine months of 2019 this Friday.
Taking a look at the third-quarter results first, CFT noted solid growth during the period, with reported consolidated revenue of CHF 230.8 million ($232.6 million).

When compared to the CHF 204.2 million consolidated revenue achieved in the same period in 2018, Q3 of 2019’s revenue has grown by 15.3 per cent in constant currencies.
In the third quarter, adjusted revenue came in at CHF 253.9 million. This is higher than the CHF 227.1 million adjusted revenue achieved in Q3 of 2018, by 13.9 per cent at constant exchange rates. 
The solid performance achieved in the most recent quarter follows on from a strong first-half of 2019 for CFT. As , during the first six months of 2019, CFT reported an uptick in activity, with consolidated revenue coming in at CHF 474.3 million. This is higher by 3.1 percent from the CHF 459.8 million in revenue reported in the first half of 2018.
Gaitame revenues fall in Q3
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.
However, for the Group’s interdealer broking business, the adjusted revenue actually managed to increase by 15.2 per cent in constant currencies, the statement released today said.
For the first nine months of the year, the Swiss company reported its consolidated revenue being CHF 705.1 million. In the same period of 2018, the firm had consolidated revenue of CHF 664.0 million. Therefore, revenue had grown by 6.9 per cent year-on-year.
Although Gaitame posted a drop in revenues in the third quarter, for the first nine months of the year, the retail broker has managed to achieve a year-on-year increase in revenues of 2.1 per cent. The company’s interdealer broking business revenues also increased by 6.9 per cent.