Compagnie Financière Tradition's Japanese Retail Forex Revenue Down 28.6% in H1

Photo: Bloomberg

Swiss inter-dealer broker Compagnies Financière Tradition (CFT), which also owns Japanese retail forex provider Gaitame.com, reported today its revenue results for the first half of 2017.

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The CFT Group reported first-half consolidated revenue of just CHF 411.4 million, compared with CHF 425.2 million in the same period in 2016, a decrease of 0.6 percent at constant exchange rates. In current currencies, CFT explains that the reported revenue remains affected by the weakness of the pound sterling following the vote on Brexit, down 3.3 percent compared to the same period last year.

For the same period, CFT’s consolidated adjusted revenue was just CHF 445.7 million compared with CHF 460.0 million in 2016, representing a decrease of 0.5 percent at constant exchange rates. In current currencies, the adjusted revenue decreased by 3.1 percent. The adjusted revenue from interdealer broking business (IDB) was up 0.8 percent in constant currencies while the forex trading business for retail investors in Japan (Non-IDB) was down 28.6 percent.

In the second quarter, consolidated revenue was just CHF 198.0 million compared with CHF 205.8 million in the second quarter 2016, representing a decrease of 0.8 percent in constant currencies. The group’s consolidated adjusted revenue was just CHF 215.3 million against CHF 223.6 million in 2016, down 1.6 percent in constant currencies with IDB down 0.1 percent and Non-IDB down 32.1 percent.