CFT’s 2023 Profit Surge Marks Record Earnings Year

The remarkable CFT’s 2023 profit surge underscores its robust financial performance and strategic prowess in navigating market dynamics. The company’s basic earnings per share rose by 17.6% to CHF 12.71, while it also declared a cash dividend of CHF 6 per share. Compagnie Financière Tradition (SWX: CFT), a broker between dealers and operator of Gaitame, a forex trading platform in Japan, concluded 2023 with a pre-tax profit of CHF 127.2 million, marking a 16.1% increase from the previous year, derived from its annual IFRS revenue of CHF 982.4 million. Its net profit reached CHF 94.4 million, reflecting a 15.9% rise.

Compagnie Financière Tradition’s 2023: Record-breaking Profit Surge

The latest figures released today (Friday) reveal that the operating profit from IFRS business amounted to CHF 105.5 million, marking a notable 19.7 percent increase compared to the previous year. Moreover, the operating margin saw an improvement, rising to 10.7 percent from 9.9 percent.

In addition, the revenue for the joint venture surpassed CHF 1.05 billion, showing a year-over-year growth of 9.5 percent. Furthermore, the operating profit for the joint venture witnessed a significant rise of 17.1 percent to CHF 127.7 million, with the operating margin strengthening to 12.1 percent from the previous year’s 11.4 percent.

Revenue from the interdealer broking business of the Swiss group increased by 9.6 percent, surpassing CHF 1.02 billion, while revenue from the online forex trading business for retail investors in Japan rose by 5.5 percent to CHF 31.4 million.

CFT’s 2023 profit surge also highlighted its advantageous position in energy and commodity markets, along with the growth of its market data commercialization activity (TraditionData), contributing to its overall performance. Additionally, the company’s organic growth strategy continued to drive its business activities forward.

CFT’s profit up by 16%

Moreover, the Swiss group company capitalized on the increased interest rates, resulting in a boost in income from cash investments by over CHF 9.4 million. Additionally, its basic earnings per share surged by 17.6 percent to CHF 12.71.

“The Group’s level of activity since the beginning of 2024 is up on the same period last year at constant exchange rates,” The group stated, referencing the outlook. “Compagnie Financière Tradition intends to pursue its growth strategy, primarily organic, as well as its investments in its hybrid broking capabilities throughout its operations and in its data and analytics activities with the support of its developed data science expertise.”

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