Tradition sees Japan FX revenue down 28.6% in First Half 2017


Swiss interdealer broker Compagnie Financière Tradition (SWX:CFT) has reported first-half consolidated revenue of CHF 411.4m, compared with CHF 425.2m in the same period in 2016, a decrease of 0.6% at constant exchange rates.

In current currencies, the reported revenue remains impacted by the weakness of pound sterling following the vote on Brexit, down 3.3% compared to the same period last year.

For the same period, the Group’s consolidated adjusted revenue was CHF 445.7m compared with CHF 460.0m in 2016, representing a decrease of 0.5% at constant exchange rates.

In current currencies, the adjusted revenue decreased by 3.1%. The adjusted revenue from interdealer broking business (IDB) was up 0.8% in constant currencies while the forex trading business for retail investors in Japan (Non-IDB) was down 28.6%.

In the second quarter, consolidated revenue was CHF 198.0m compared with CHF 205.8m in the second quarter 2016, representing a decrease of 0.8% in constant currencies. The Group’s consolidated adjusted revenue was CHF 215.3m against CHF 223.6m in 2016, down 1.6% in constant currencies with IDB down 0.1% and Non-IDB down 32.1%.

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Tradition sees Japan FX revenue down 28.6% in First Half 2017

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