Compagnie Financière Tradition reports robust H1 growth with higher revenue and profits, reflecting solid performance and expansion.
Compagnie Financière Tradition reports robust H1 growth with higher revenue and profits, reflecting solid performance and expansion.
Compagnie Financière Tradition SA has announced its financial results for H1 2024, highlighting significant growth in revenue and profits. The company has demonstrated robust growth, building on the momentum from the previous year.
For the first six months of 2024, the Group’s consolidated revenue, including contributions from joint ventures, rose by 9.2% at constant exchange rates, reaching CHF 577.0 million, up from CHF 552.4 million in the same period last year. This increase was driven by heightened activity across all regions and asset classes, reflecting the success of the Group’s organic growth strategy. Revenue from the interdealer broking (IDB) business increased by 9.4% at constant exchange rates to CHF 560.3 million. In comparison, revenue from the online forex trading segment for retail investors in Japan (Non-IDB) grew by 4.9% to CHF 16.7 million.
Operating profit, including joint ventures, saw a notable increase of 12.0% at constant exchange rates, amounting to CHF 79.9 million compared to CHF 74.0 million in H1 2023. The operating margin improved slightly to 13.8% from 13.4% in the previous year. The Group also reported a net financial income of CHF 1.7 million, a turnaround from the net financial expense of CHF 4.5 million recorded in 2023. This positive shift was attributed to improved interest income from cash investments, with net income rising to CHF 2.6 million from CHF 0.4 million.
Foreign exchange gains and losses had a minimal impact during this period, in contrast to the CHF 3.9 million loss experienced in 2023. The share of results from associates and joint ventures was CHF 12.4 million, up 7.0% at constant exchange rates from CHF 12.8 million in H1 2023. Consolidated net profit reached CHF 63.9 million, up from CHF 54.0 million in the same period last year. The Group’s share of this profit was CHF 60.0 million, reflecting a 24.5% increase at constant exchange rates. Basic earnings per share increased by 21.9% to CHF 7.98.
As of June 30, 2024, the Group maintained a strong balance sheet with consolidated equity of CHF 456.9 million, up from CHF 426.0 million at the end of 2023. The net cash position, including the Group’s share in joint ventures, was CHF 251.6 million. Looking ahead, Compagnie Financière Tradition plans to continue its growth trajectory through organic expansion and investment in digitalization and data analytics, leveraging its expertise in data science to enhance its brokerage activities.
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