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Financial industry – CFT achieves less profit in the first half of the year News

Friday, September 1st, 2017 | Economy

Reingewinn, after deduction of minorities, fell by 6.5 per cent to CHF 27.4 million. Financial expenses in the amount of 4.7 million (previous year: 0.1 million) impacted earnings, as the Lausanne financial intermediary on Friday announced. Operating profit, on the other hand, rose by 8.7 percent to 37.2 million, with local currency growth of 10 percent.
Sales were already well-known. This decreased by 3.3 percent to 411.4 million CHF, as CFT communicated at the end of July. At constant exchange rates, the decline corresponds to a decline of 0.6 percent. The group had suffered especially under the influence of the weak British pound after the Brexit vote, it is said.
Adjusted sales from the interdealer brokerage business (IDB) fell by 2.0 per cent to 431.6 million, but rose by 0.8 per cent in local currencies. Meanwhile, Japan's non-IDB foreign exchange trading business fell 29 percent to 14.1 million. The Japanese market shows a deep market volatility especially with regard to the yen, according to CFT.
In the balance sheet, we continue to rely on a strong capital position. Consolidated equity is reported at CHF 363.4 million, compared to EUR 380.3 million at the end of 2016. Of shareholders' equity, 349.1 million were attributable to the shareholders. The cash position, including financial investments and net debt at the end of June stood at 112.9 million after 143.2 million
In the second half of the year, CFT will continue to focus on the search for external and organic growth opportunities. The product portfolio is to be further improved.
(AWP)

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