Tradition Reports 9.4% Revenue Growth Amid Mixed Segment Performance
Compagnie Financière Tradition (CFT) has reported a strong third quarter, with revenue increasing to CHF 278.3 million, up from CHF 272.3 million a year earlier. This represents a 9.4% growth at constant exchange rates.
For the first nine months of the year, Tradition's revenue reached CHF 910.4 million, marking an 11.3% increase at constant exchange rates compared to the same period last year. The company's interdealer broking division was a significant contributor, accounting for CHF 879.2 million of revenue through September, up 11.0% at constant rates. This growth was driven by increased activity across all regions and asset classes, with particularly strong performance in July and September.
However, not all business segments performed equally. The company's retail-focused Japanese business saw revenue fall 25.3% at constant exchange rates in the third quarter. Despite this, Tradition's overall interdealer broking business grew 10.7% at constant exchange rates during the quarter, indicating a robust performance in its core operations.
Tradition, which employs over 2,400 people and brokers transactions across various asset classes, continues to operate in more than 30 countries worldwide. The company's shares trade on the SIX Swiss Exchange. While foreign exchange movements impacted the reported figures, Tradition's revenue growth at constant currency rates demonstrates the company's resilience and growth potential.
