Compagnie Financière Tradition (CFT), the parent company of Japanese retail broker Gaitame, has published its results for the first half of 2020, revealed an increase in revenues across the board.
The core business of CFT is to ensure liquidity in the financial markets across different asset classes globally. Therefore, with the onset of the coronavirus pandemic, the Swiss company has experienced a solid uptick in business volumes – particularly in the first quarter of the year.
In H1 2020, an uptick in activity has resulted in consolidated revenue coming in at CHF 512.8 million. This represents a growth of 13.6 per cent in constant currencies against the same period in 2019 when CFT reported consolidated revenue of CHF 474.3 million.
For the first six months of 2020, the Switzerland-headquartered Group posted consolidated adjusted revenue of CHF 558.0 million. This is stronger than the CHF 520.5 million in 2019, by 12.5 per cent at constant exchange rates. For the company’s interdealer broking business, adjusted revenue was stronger by 12.8 per cent in constant currencies.
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Gaitame revenue increases in H1 2020
Taking a look at the Group’s foreign exchange (forex) trading business for retail investors in Japan – Gaitame, adjusted revenue increased slightly on a year-on-year comparison, growing by 5.9 per cent.
However, for the second quarter, Gaitame’s performance has not held up as well. During the period consolidated adjusted revenue in constant currencies declined by 7.7 per cent when measured against the same period of the prior year.
In the first quarter of 2020, CFT reported that Gaitame saw an increase of 17.9 per cent in adjusted revenue on a yearly comparison, as Finance Magnates reported. CFT has not provided the exact figures for the actual revenue achieved for either period.
For the Group as a whole, consolidated revenue increased by 6.6 per cent, rising from CHF 234.1 million in the second quarter of 2019, to reach CHF 235.5 million in the current quarter.