CFT saw a revenue increase of 11.8% in H1 2023, bolstered by organic growth strategies.
The firm's operating profit soared 41.9%, signaling a solid financial performance.
The
Switzerland-listed Compagnie Financière Tradition (SWX: CFT), which operates
the Japanese retail foreign exchange (forex) trading platform Gaitame, has
released its financial results for H1 2023. The firm reported
significant growth, with an increase of 11.8% in revenue and an uptick of 41.9% in operating profit.
The firm
reported revenue of CHF 552.4 million in H1 2023, compared to CHF 525.1 million
in the same period last year. This significant increase was primarily due to
Compagnie Financière Tradition's interdealer broking business (IDB), which grew 11.6% to CHF 534.0 million. Additionally, its online forex trading business
for retail investors in Japan saw a notable rise of 18.7% to CHF 18.4 million.
The
operating profit also witnessed a substantial increase. In H1 2023, it was CHF
74.0 million compared to CHF 56.0 million in H1 2022. This resulted in an
operating margin of 13.4%, which is up from 10.7% in the previous year.
The parent
company of Gaitame recently published its report for Q2 2023, in which it reported an adjusted revenue of CHF 261.9 million for the
three months ending in June. This was a jump of 34%. For the entire year of
2022, the company achieved a net profit increase of 40.3% to CHF 89.1 million.
An Eye on Profitability
When it
comes to net profit, the company reported a slight increase. Despite a
financial expense of CHF 4.5 million, largely due to fluctuating exchange
rates, the net profit stood at CHF 54.0 million, with a group’s share of CHF
51.0 million. This led to an increase of 10.5% in basic earnings per share, which
reached CHF 6.93 million.
The firm
has also managed to maintain a strong balance sheet. As of 30 June 2023, the
consolidated equity was CHF 447.4 million, with a net cash balance of CHF 257.2
million, reflecting the company's focus on maintaining a strong capital
position.
Moving
forward, Compagnie Financière Tradition aims to continue its organic growth
strategy. The company will also keep an eye out for external growth
opportunities. Emphasizing “the quality of its balance sheet and cost
discipline,” the firm plans to invest in its hybrid broking capabilities and
data analytics activities, backed by its in-house data science expertise.
New Share Buyback Program
In a
strategic move to better use its capital, the company revealed plans for a
share buyback program in May. Initially scheduled to kick off in June 2023, the
program eventually got underway at the end of August. The firm intends to
acquire as many as 300,000 bearer shares, which amounts to nearly 3.91% of the
total share capital.
If executed
at the most recent closing price of CFT shares, this initiative would set the
Swiss company back approximately CHF 35 million. The program is slated to
continue until May 2026 at the latest, although the total budget for the
buyback was not specified.
The
Switzerland-listed Compagnie Financière Tradition (SWX: CFT), which operates
the Japanese retail foreign exchange (forex) trading platform Gaitame, has
released its financial results for H1 2023. The firm reported
significant growth, with an increase of 11.8% in revenue and an uptick of 41.9% in operating profit.
The firm
reported revenue of CHF 552.4 million in H1 2023, compared to CHF 525.1 million
in the same period last year. This significant increase was primarily due to
Compagnie Financière Tradition's interdealer broking business (IDB), which grew 11.6% to CHF 534.0 million. Additionally, its online forex trading business
for retail investors in Japan saw a notable rise of 18.7% to CHF 18.4 million.
The
operating profit also witnessed a substantial increase. In H1 2023, it was CHF
74.0 million compared to CHF 56.0 million in H1 2022. This resulted in an
operating margin of 13.4%, which is up from 10.7% in the previous year.
The parent
company of Gaitame recently published its report for Q2 2023, in which it reported an adjusted revenue of CHF 261.9 million for the
three months ending in June. This was a jump of 34%. For the entire year of
2022, the company achieved a net profit increase of 40.3% to CHF 89.1 million.
An Eye on Profitability
When it
comes to net profit, the company reported a slight increase. Despite a
financial expense of CHF 4.5 million, largely due to fluctuating exchange
rates, the net profit stood at CHF 54.0 million, with a group’s share of CHF
51.0 million. This led to an increase of 10.5% in basic earnings per share, which
reached CHF 6.93 million.
The firm
has also managed to maintain a strong balance sheet. As of 30 June 2023, the
consolidated equity was CHF 447.4 million, with a net cash balance of CHF 257.2
million, reflecting the company's focus on maintaining a strong capital
position.
Moving
forward, Compagnie Financière Tradition aims to continue its organic growth
strategy. The company will also keep an eye out for external growth
opportunities. Emphasizing “the quality of its balance sheet and cost
discipline,” the firm plans to invest in its hybrid broking capabilities and
data analytics activities, backed by its in-house data science expertise.
New Share Buyback Program
In a
strategic move to better use its capital, the company revealed plans for a
share buyback program in May. Initially scheduled to kick off in June 2023, the
program eventually got underway at the end of August. The firm intends to
acquire as many as 300,000 bearer shares, which amounts to nearly 3.91% of the
total share capital.
If executed
at the most recent closing price of CFT shares, this initiative would set the
Swiss company back approximately CHF 35 million. The program is slated to
continue until May 2026 at the latest, although the total budget for the
buyback was not specified.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
Saxo's Ownership Change: Sampo Sells 19.8% Stake in the Brokerage
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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