Compagnie Financière Tradition Delivers 11.8% YoY Growth in Consilidated Revenue for H1 2023

Compagnie Financière Tradition (CFT), one of the world's largest interdealer brokers in over-the-counter financial and commodity related products, has released its financial results for the first half of 2023, showing that the company maintained its growth momentum, partly contributed by central bank monetary tightening policy to combat stubborn inflation during the period.

The Group's consolidated revenue including the share of joint ventures for H1 2023 came in at  CHF 552.4m, an increase of 11.8% at constant exchange rates from CHF 525.1m in H1 2022.

Operating profit including share of joint ventures surged 41.9% at constant exchange rates to  CHF 74.0m, with operating margin up from 10.7% to 13.4%.

Net profit during this period was CHF 51.0m, growing 8.0% at constant exchange rates. Basic earnings per share rose 10.5% to CHF 6.93.

Specifically, revenue from interdealer broking business (IDB) stood at CHF 534.0m, up 11.6% at constant exchange rates. Revenue from the online forex trading business for retail investors in Japan (Non-IDB) increased 18.7% to CHF 18.4m.

Last month, CFT has commenced a new share buyback programme​ to purchase a total of up to 3.91 % of its own shares, or about CHF 35 million based on current share price.