The reported consolidated revenue of the group increased by 3.8 percent.
Interdealer broker business saw a marginal jump of 3.6 percent.
The latest figure was almost 4 percent, at a current exchange rate, higher than the figure reported by the group in the first quarter of the previous year. The year-over-year jump was 3.7 percent when the constant exchange rate is taken into account.
“The average level of activity for the first quarter showed an increase compared to the same period last year,” CFT stated in the press release shared with Finance Magnates.
On an adjusted basis, the group‘s consolidated revenue for the three months stood at CHF 268.7 million. It was again an increase of 3.8 percent, at a constant exchange rate, from the previous year’s CHF 259.2 million.
CFT categorizes its business into two divisions: interdealer broking business (IDB) and non-interdealer broking business (IDB). The second is its retail forex trading business in Japan where the group operates a trading venue, Gaitame.
Additionally, the group elaborated that the adjusted revenue coming from its IDB business jumped by 3.6 percent at a constant exchange rate, whereas the forex trading business saw an upward surge of 8.5 percent. However, it did not provide any absolute numbers.
Poor 2021 Numbers
Finance Magnates earlier reported that the groups annual adjusted revenue for 2021 decreased by 2.5 percent to CHF 950.8 million. Though its IDB business shrank by 2.8 percent, revenue from its forex trading jumped by 3.8 percent. However, in absolute terms, IDB was the revenue generator bringing CHF 917 million.
It closed the year with an adjusted operating profit of CHF 99.9 million, which was 8 percent down from the previous year. Furthermore, the operating margin declined to 10.5 percent.
Leave a Reply