The parent company of Japanese foreign exchange (forex) broker Gaitame, Compagnie Financière Tradition (CFT), has published its financial results for the first quarter of 2019 this Friday.
The Group saw an uptick in activity during the first quarter of this year which resulted in consolidated revenue of CHF 240.4 million. In constant currencies, this is higher than the consolidated revenue of CHF 229.6 million reported in the same period of 2018 by 3.3 percent. At current exchange rates, consolidated revenue increased by 4.6 percent.
Taking a look at the Group’s forex trading business for retail investors in Japan, Gaitame, adjusted revenue was higher by 15.5 percent. The statement does not give the exact figure for revenues.
The increase in revenues in the first quarter of this year is less than that achieved in the final quarter of 2018, which noted an uptick in 27.8 percent year-on-year for the forex broker. The third quarter of 2018 achieved an even more impressive increase of 58 percent.
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Taking all of this into account, although Gaitame has managed to achieve a year-on-year uptick in revenues, the growth reported is less than the previous two quarters which fell in 2018.
Gaitame Closes 2018 on Solid Footing
Overall, Gaitame reported a solid 2018, with the adjusted revenue for the FX broker managing to achieve a year-on-year increase. For 2018, this uptick was 31.9 percent.
The Group’s consolidated adjusted revenue for the whole of 2018 was also up by 10.4 percent, jumping from CHF 873.5 million in 2017 to CHF 971.7 million last year.
This figure follows on from a disappointing 2017. As Finance Magnates reported, in the first quarter of 2017, revenues for the broker fell by 23.1 percent. In 2017, the main contributing factor to the company’s poor performance in Japan was a broadly observed collapse in volatility and a decline in trading activity related to the Japanese yen.