Tradition’s Japanese Retail FX Business Gaitame.com Drops 20% in Q1 2017

Impacted by the weakness of pound sterling, CFT’s revenues dipped slightly to CHF 213.4 million for Q1 2017.

Multi-asset interdealer broker Compagnie Financière Tradition SA, listed on the Swiss SIX under ticker CFT, has reported Q1 2017 financial results, which were largely stable when weighed against 2016, according to a corporate statement.

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Impacted by the weakness of pound sterling, CFT’s revenues dipped slightly to CHF 213.4 million for Q1 2017, down -2.8 percent year-over-year from CHF 219.5 million in the period last year. However, the figure was up 0.2 percent year-over-year on a constant currency basis.

On an adjusted basis, Compagnie Financière Tradition’s consolidated revenue yielded a figure of CHF 230.4 million in Q1 2017, besting a previous reading of CHF 236.4 million in Q1 2016 or 0.4 percent higher year-over-year at constant exchange rates.

In terms of its adjusted revenue from interdealer broking business (IDB), the company disclosed a drop by 1.2 percent year-over-year in constant currencies. In addition, CFT’s revenues from its Japanese FX brokerage business Gaitame.com also dropped 20.5 percent over last year’s figures.

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