Gaitame Parent Reports 50% YoY Profit Jump for H1 2020
- The Group benefited from the COVID-19 induced market volatility, but the growth is slowing down.
Compagnie Financière Tradition (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. This shows a massive leap of 50 percent 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 of the previous year. Though Finance Magnatesreported on this figure 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 at 135 percent.
The Swiss headquartered company highlighted that the massive boost in 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 Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term 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 Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this TermGaitame’s adjusted revenue increased slightly by 5.9 percent on a year-on-year comparison to CHF 20.3 million. On the other hand, the IDB business showed an incline of 12.8 percent in constant exchange rates to generate CHF 537.7 million.
Despite the windfall growth in the first half of the year, the Group pointed out that its business growth corrected in August.
“Compagnie Financière Tradition will pursue its growth strategy whilst maintaining its focus on cost management,” the Group mentioned in its outlook section.
Compagnie Financière Tradition (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. This shows a massive leap of 50 percent 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 of the previous year. Though Finance Magnatesreported on this figure 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 at 135 percent.
The Swiss headquartered company highlighted that the massive boost in 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 Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term 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 Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this TermGaitame’s adjusted revenue increased slightly by 5.9 percent on a year-on-year comparison to CHF 20.3 million. On the other hand, the IDB business showed an incline of 12.8 percent in constant exchange rates to generate CHF 537.7 million.
Despite the windfall growth in the first half of the year, the Group pointed out that its business growth corrected in August.
“Compagnie Financière Tradition will pursue its growth strategy whilst maintaining its focus on cost management,” the Group mentioned in its outlook section.