Compagnie Financière Tradition (CFT), the parent company of Japanese foreign exchange (forex) broker Gaitame, has announced its full-year results of 2018 on a group and subsidiary level this Friday morning.
During 2018, CFT reported an adjusted consolidated revenue of CHF 971.7 million ($971.7 million). When measuring this with the CHF 873.5 million achieved in 2017, it is a rise of 11.2 per cent at current exchange rates or 10.4 per cent in constant currencies.
Gaitame Reports Solid Performance in 2018
Focusing on the Group’s forex trading business for retail investors in Japan, Gaitame, adjusted revenue was CHF 36.7 million, which represents an increase of 31.9 per cent year-on-year.
As Finance Magnates reported when CFT released its fourth quarter and preliminary 2018 results, Gaitame reported that adjusted revenues for the final quarter of last year were up by 27.8 per cent year-on-year.
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Whilst this was a healthy uptick for the quarter, it is almost half of the revenue increase that the broker achieved in the third quarter of 2018. During Q3 of 2018, the unit had an uptick in revenue of 58 per cent when measured against the same period in 2017.
Net profit for the Group was CHF 50.8 million in 2018. This is higher by 10.5 per cent in constant currencies than the CHF 46.6 million CFT reported in the twelve months ended December 31, 2017.
The Biedex.com in the results of associates and joint ventures was CHF 17.5 million. This is up by an impressive 175.8 per cent in constant currencies from CHF 6.3 million in 2017. According to the statement, this uptick was due to the Group’s solid performance in Mainland China and that of Gaitame.
In 2018, CFT also reported an operating profit (before exceptional items) of CHF 101.1 million. Again, this is a much stronger figure than that achieved in 2017 (CHF 80.8 million) by 24.7 per cent in constant currencies.