Compagnie Financière Tradition /
Compagnie Financière Tradition : Non-IFRS* revenue in H1 2013:CHF 510.8 million
. Processed and transmitted by Thomson Reuters ONE.
The issuer is solely responsible for the content of this announcement.
Press release
Non-IFRS* revenue in H1 2013:CHF 510.8 million
Non-IFRS revenue in Q2 2013 up 1.4%
After an adjusting period in the first quarter, CompagnieFinancière Tradition consolidated revenue have stabilized in the second quarter compared to the same period last year. Thus, the Group reported first-half consolidated IFRS revenue of CHF 475.9m, compared with CHF 512.4m in same period in 2012, a decline of 7.1% at current exchange ratesor5.7% in constant currencies.
For the same period, the Group's consolidated Non-IFRS revenue was CHF 510.8m, compared with CHF 545.0m in 2012, a decline of 4.4% at constant exchange rates.The Non-IFRS revenue from interdealer broking business (IDB) was down 5.2% in constant currencies while the forex trading business for retail investors in Japan (Non-IDB) was up 27.3%.
The geographic breakdown of consolidated IFRS and Non-IFRS revenue is as follows:
| | IFRS | Non-IFRS |
| CHFm | H1 2013 | H1 2012 | H1 2013 | H1 2012 |
| United Kingdom | 168.1 | 178.4 | 179.4 | 187.8 |
| Continental Europe | 42.2 | 58.2 | 43.1 | 59.4 |
| Europe, Middle East and Africa | 210.3 | 236.6 | 222.5 | 247.2 |
| Americas | 140.5 | 150.3 | 144.8 | 155.0 |
| Asia-Pacific | 125.1 | 125.5 | 129.3 | 129.5 |
| IDB business | 475.9 | 512.4 | 496.6 | 531.7 |
| Non-IDB business | - | - | 14.2 | 13.3 |
| Total | 475.9 | 512.4 | 510.8 | 545.0 |
In the second quarter, consolidated Non-IFRS revenue was CHF 258.2m, up 1.4% in constant currencies from the equivalent quarter last year.
The first-half result is benefiting from the cost reduction measures implemented in 2012 and fully embedded in 2013. The result is therefore expected to improve in the first-half 2013 compared to the same period last year.
*Based on IFRS 2012 with proportionate consolidation method for joint venturesin line with the Group management reports ("Non-IFRS")With a presence in 28 countries, Compagnie Financière Tradition SA is one of the world's leading interdealer brokers (IDB).The Group provides broking services for a complete range of financial products (money market products, bonds, interest rate, currency and credit derivatives, equities, equity derivatives, interest rate futures and index futures) and non-financial products (energy and environmental products, and precious metals).
CompagnieFinancière Tradition (CFT) is listed on the SIX Swiss Exchange.To find out more about our Group please visit our website at www.tradition.com.
| Presse contacts: |
| | |
| Compagnie Financière Tradition SA | |
| Patrick Combes, President | |
| Tél. : +41 21 343 52 87 | |
| | |
| Voxia communication | |
| Jérémy Nieckowski | |
| Tél. : +41 22 591 22 65 | |
| Email : jeremy.nieckowski@voxia.ch | |
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Compagnie Financière Tradition via Thomson Reuters ONE
HUG#1718248