Gaitame Reports Weak Q4 and Full-Year 2019 Revenues
- The broker’s parent company, however, largely posted a solid performance.
The Switzerland-based parent company of Japanese foreign exchange (Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term) broker Gaitame, Compagnie Financière Tradition (CFT), has published its financial results for the fourth quarter and full year of 2019 this Friday.
According to the statement released by the company, activity during the year increased, with consolidated revenue coming in at CHF 924.1 million. This is higher than the CHF 884.7 million revenues recorded in 2018 by 5.1 percent in constant currencies.
In terms of consolidated adjusted revenue, CFT posted revenue of CHF 1.013 billion for the whole year. Again, this is higher than the CHF 971.7 million achieved in 2018, which is 4.7 percent higher year-on-year.
Gaitame revenues fall YoY in 2019
For the full year, adjusted revenue from the interdealer broking business (IDB) was up 5.0 percent in constant currencies on an annual comparison. The Group’s forex trading business for retail investors in Japan - Gaitame - however, reported a drop in adjusted revenues of 2.7 percent.
For the second half of the year, CFT saw an increase in consolidated adjusted revenue of 6.1 percent, when measured against the same period of the previous year. Gaitame’s revenues for the second half of the year, on the other hand, fell by 14.8 percent on an annual comparison.
In the fourth quarter of 2019, Gaitame again reported a weak performance. Specifically, Gaitame’s revenues were lower by 17.5 percent during the quarter, whereas its parent company reported consolidated revenue of CHF 219.0 million compared with CHF 220.7 million in the fourth quarter 2018, representing a decline of 0.2 percent.
In the previous quarter, despite CFT overall reporting growth for the period, the same can’t be said for the Group’s Forex Trading Forex Trading Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Read this Term business for retail investors in Japan, Gaitame. This is because adjusted revenue fell by 12.6 percent year-on-year in Q3 of 2019.
The Switzerland-based parent company of Japanese foreign exchange (Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term) broker Gaitame, Compagnie Financière Tradition (CFT), has published its financial results for the fourth quarter and full year of 2019 this Friday.
According to the statement released by the company, activity during the year increased, with consolidated revenue coming in at CHF 924.1 million. This is higher than the CHF 884.7 million revenues recorded in 2018 by 5.1 percent in constant currencies.
In terms of consolidated adjusted revenue, CFT posted revenue of CHF 1.013 billion for the whole year. Again, this is higher than the CHF 971.7 million achieved in 2018, which is 4.7 percent higher year-on-year.
Gaitame revenues fall YoY in 2019
For the full year, adjusted revenue from the interdealer broking business (IDB) was up 5.0 percent in constant currencies on an annual comparison. The Group’s forex trading business for retail investors in Japan - Gaitame - however, reported a drop in adjusted revenues of 2.7 percent.
For the second half of the year, CFT saw an increase in consolidated adjusted revenue of 6.1 percent, when measured against the same period of the previous year. Gaitame’s revenues for the second half of the year, on the other hand, fell by 14.8 percent on an annual comparison.
In the fourth quarter of 2019, Gaitame again reported a weak performance. Specifically, Gaitame’s revenues were lower by 17.5 percent during the quarter, whereas its parent company reported consolidated revenue of CHF 219.0 million compared with CHF 220.7 million in the fourth quarter 2018, representing a decline of 0.2 percent.
In the previous quarter, despite CFT overall reporting growth for the period, the same can’t be said for the Group’s Forex Trading Forex Trading Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Read this Term business for retail investors in Japan, Gaitame. This is because adjusted revenue fell by 12.6 percent year-on-year in Q3 of 2019.