{"id":136965,"date":"2021-08-27T07:59:21","date_gmt":"2021-08-27T07:59:21","guid":{"rendered":"https:\/\/precoinnews.com\/?p=136965"},"modified":"2021-08-27T07:59:21","modified_gmt":"2021-08-27T07:59:21","slug":"compagnie-financiere-traditions-h1-net-profit-declines-24-4","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/compagnie-financiere-traditions-h1-net-profit-declines-24-4\/","title":{"rendered":"Compagnie Financiere Tradition\u2019s H1 Net Profit Declines 24.4%"},"content":{"rendered":"

Compagnie Financiere Tradition (CFT), a Swiss interdealer broker and operator of a Japanese retail broking giant, reported a consolidated net profit of CHF 39.1 million for the first six months of 2021 compared to the previous year\u2019s record of CHF 51.5 million.<\/span><\/p>\n

The year-over-year decline of the net profit by 27.2 percent was mostly due to the vanishing impact of the market volatility spurred by the economic impact of the pandemic. On the basis of a constant currency rate, this figure came in at CHF 35.5 million, dropping by 24.4 percent.<\/span><\/p>\n

Market Is Normalizing<\/span><\/h2>\n

\u201cThe activity of the first semester 2021 should be put into perspective with the exceptional volume of activity in the same period last year, particularly in March and to a lesser extent in April,\u201d the company stated.\u00a0<\/span><\/p>\n

\u201cIndeed, the gradual health crisis resulting from COVID-19 had caused a very high volatility in the financial markets positively impacting the Group’s revenue.\u201d<\/span><\/p>\n

According to Friday’s disclosure, the revenue of the group for this period came in at CHF 452 million, out of which CHF 213.3 million was generated in the second quarter of the year. It witnessed a 9.9 percent decline on a constant currency rate in this number as last year, it reported CHF 512.8 million.<\/span><\/p>\n

After adjustments, the semester revenue came in at CHF 491 million, which is 9.9 percent down from H1 of 2020. Additionally, it detailed that the revenue from the interdealer broking business came in at CHF 474.5 million, while Japanese retail forex trading brought CHF 16.5 million, which is a decline of 9.8 percent and 13.8 percent, respectively.<\/span><\/p>\n

The operating profit of the company for the six months stood at CHF 43.8 million, which is a decline of 21.6 percent from CHF 58.1 million in the previous year. Moreover, the operating margin dropped from 11.3 percent to 9.7 percent.<\/span><\/p>\n

In the outlook section, Compagnie stated: \u201cThe level of activity for the summer months is slightly up compared to the same period last year. Compagnie Financi\u00e8re Tradition will pursue its growth strategy whilst maintaining its focus on cost management.\u201d<\/span><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Compagnie Financiere Tradition (CFT), a Swiss interdealer<\/p>\n","protected":false},"author":3,"featured_media":136964,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nCompagnie Financiere Tradition\u2019s H1 Net Profit Declines 24.4% - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/compagnie-financiere-traditions-h1-net-profit-declines-24-4\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Compagnie Financiere Tradition\u2019s H1 Net Profit Declines 24.4% - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Compagnie Financiere Tradition (CFT), a Swiss interdealer\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/compagnie-financiere-traditions-h1-net-profit-declines-24-4\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-27T07:59:21+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/08\/Compagnie-Financiere-Traditions-H1-Net-Profit-Declines-24.4.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/compagnie-financiere-traditions-h1-net-profit-declines-24-4\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/compagnie-financiere-traditions-h1-net-profit-declines-24-4\/\",\"name\":\"Compagnie Financiere Tradition\u2019s H1 Net Profit Declines 24.4% - 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