Gaitame Sees Adjusted Revenue Jump by 31.9% YoY in 2018
- Despite sluggish trading volumes, the broker managed to achieve strong results during the year.
Compagnie Financière Tradition (CFT), the 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, has announced its full-year results of 2018 on a group and subsidiary level this Friday morning.
During 2018, CFT reported adjusted consolidated revenue of CHF 971.7 million ($971.7 million). When measuring this with the CHF 873.5 million achieved in 2017, it is a rise of 11.2 percent at current exchange rates or 10.4 percent in constant currencies.
Gaitame Reports Solid Performance in 2018
Focusing on 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, adjusted revenue was CHF 36.7 million, which represents an increase of 31.9 percent year-on-year.
As Finance Magnates reported when CFT released its fourth quarter and preliminary 2018 results, Gaitame reported that adjusted revenues for the final quarter of last year were up by 27.8 percent year-on-year.
While this was a healthy uptick for the quarter, it is almost half of the revenue increase that the broker achieved in the third quarter of 2018. During Q3 of 2018, the unit had an uptick in revenue of 58 percent when measured against the same period in 2017.
Net profit for the Group was CHF 50.8 million in 2018. This is higher by 10.5 percent in constant currencies than the CHF 46.6 million CFT reported in the twelve months ended December 31, 2017.
The share in the results of associates and joint ventures was CHF 17.5 million. This is up by an impressive 175.8 percent in constant currencies from CHF 6.3 million in 2017. According to the statement, this uptick was due to the Group’s solid performance in Mainland China and that of Gaitame.
In 2018, CFT also reported an operating profit (before exceptional items) of CHF 101.1 million. Again, this is a much stronger figure than that achieved in 2017 (CHF 80.8 million) by 24.7 percent in constant currencies.
Compagnie Financière Tradition (CFT), the 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, has announced its full-year results of 2018 on a group and subsidiary level this Friday morning.
During 2018, CFT reported adjusted consolidated revenue of CHF 971.7 million ($971.7 million). When measuring this with the CHF 873.5 million achieved in 2017, it is a rise of 11.2 percent at current exchange rates or 10.4 percent in constant currencies.
Gaitame Reports Solid Performance in 2018
Focusing on 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, adjusted revenue was CHF 36.7 million, which represents an increase of 31.9 percent year-on-year.
As Finance Magnates reported when CFT released its fourth quarter and preliminary 2018 results, Gaitame reported that adjusted revenues for the final quarter of last year were up by 27.8 percent year-on-year.
While this was a healthy uptick for the quarter, it is almost half of the revenue increase that the broker achieved in the third quarter of 2018. During Q3 of 2018, the unit had an uptick in revenue of 58 percent when measured against the same period in 2017.
Net profit for the Group was CHF 50.8 million in 2018. This is higher by 10.5 percent in constant currencies than the CHF 46.6 million CFT reported in the twelve months ended December 31, 2017.
The share in the results of associates and joint ventures was CHF 17.5 million. This is up by an impressive 175.8 percent in constant currencies from CHF 6.3 million in 2017. According to the statement, this uptick was due to the Group’s solid performance in Mainland China and that of Gaitame.
In 2018, CFT also reported an operating profit (before exceptional items) of CHF 101.1 million. Again, this is a much stronger figure than that achieved in 2017 (CHF 80.8 million) by 24.7 percent in constant currencies.