Tradition registers steep increase in FY 2015 profits, but revenues decline

Swiss interdealer broker Compagnie Financiere Tradition SA (SWX:CFT) has earlier today posted its consolidated results for full year 2015, with the numbers in tune with the preliminary metrics the company announced earlier this year.

Revenues for the full year felt the effect of lower trading activity levels in the fourth quarter and amounted to CHF 814.5 million compared with CHF 837.5 million in 2014, a drop of 1.7% in constant currency terms.

Adjusted consolidated revenue was CHF 873.8 million compared with CHF 894.5 million in 2014, a drop of 1.1% in constant currencies. The adjusted revenue from interdealer broking business (IDB) fell 2.3% in constant currencies while the forex trading business for retail investors in Japan (Non-IDB) was up 57.3%.

Cost-reduction measures helped the company see a 45.5% year-on-year jump in reported operating profit, which reached CHF 59.1 million.

The adjusted operating profit was CHF 72.5 million, up 48.6% from the result of CHF 49.8 million reported in 2014. The IDB adjusted operating profit was up 36.2% in constant currencies to CHF 64.1 million, whereas the operating profit of reached CHF 8.4 million compared to CHF 2.1 million in 2014.

Consolidated net profit for the full year 2015 reached CHF 45.2 million compared with CHF 32 million in 2014 with a Group share of CHF 40.5 million against CHF 27.7 million in 2014, a rise of 49.2% at constant exchange rates.

The board recommends a dividend of CHF 3.50 per share (yield close to 5.5%) compared to CHF 3.0 per share in the previous year.


You can view the full announcement from Tradition by clicking here.

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