register free | resend password


Turnover of CHF 743.6 million - Operating profit of CHF 91.8 million
- Group share of net profit - C

ID: 1003554
recent pressrelease next pressrelease

(Thomson Reuters ONE) - Corporate news announcement processed and transmitted by Hugin AS.The issuer is solely responsible for the content of this announcement. ------------------------------------------------------------------------------------ +-----------------------------------------------+| | | || CHFm | H1 2009 | H1 2008 || | | ||---------------------------+---------+---------|| Turnover | 743.6 | 788.3 ||---------------------------+---------+---------|| Operating profit | 91.8 | 99.8 ||---------------------------+---------+---------|| Profit before tax | 92.9 | 103.4 ||---------------------------+---------+---------|| Net profit for the period | 62.9 | 57.8 ||---------------------------+---------+---------|| Group share of net profit | 54.3 | 46.5 |+-----------------------------------------------+Compagnie Financière Tradition reported consolidated turnover for thefirst half of 2009 at CHF 743.6 million, compared with CHF 788.3million for the same period in 2008, a slight decrease of 1.7% atconstant exchange rates (a decrease of 5.7% at current exchangerates).Consolidated operating profit for the period fell 8.0% to CHF91.8 million from CHF 99.8 million a year ago. Operating profitbenefited from gains of CHF 25.6 million on the realisation of stakesin Group companies, including an investment in Reset Holding (Pte)Ltd.Taking into account these gains, the consolidated operating marginwas 12.4% of consolidated turnover compared with 12.7% a year ago.Group share of consolidated net profit for the period was CHF 54.3million compared with CHF 46.5 million in the first half of 2008.Profit before tax was CHF 92.9 million, against CHF 103.4 million inthe year-ago period, giving a pre-tax return of 12.5%, against 13.1%in H1 2008.The Group took a consolidated tax charge of CHF 30.0 million in thefirst half of 2009, or 32.3% of profit before tax, compared with CHF44.6 million in 2008 or 43.1% in first-half 2008.Consolidated net profit for the period rose to CHF 62.9 million fromCHF 57.8 million in the first six months of last year, bringing thenet margin to 8.5% of consolidated turnover against 7.3% in theyear-ago period.Group share of net profit rose by 16.6% to CHF 54.3 million, againstCHF 46.5 million in H1 2008. This result brought consolidated equityto CHF 412.0 million at 30 June 2009, CHF 354.3 million of which wasattributable to Company shareholders.In the second half of 2009, it is unlikely that market volatility andmarket activity will reach the levels we saw in 2008. In thiscompetitive environment, Compagnie Financière Tradition will pursueits strict cost control policy and maintain it focus on organicgrowth, in order to position the Group as a key international playerand sector leader.With a presence in 27 countries, Compagnie Financière Tradition SA isa leading interdealer broker (IDB) in the international market. TheGroup provides broking services for a complete range of financialproducts (money market products, bonds, interest rate, currency andcredit derivatives, equities, equity derivatives, interest ratefutures and index futures) and non-financial products (energy andenvironmental products, and precious metals).Compagnie Financière Tradition is listed on the SIX Swiss Exchange(CFT). For more information on our Group, visit our website atwww.viel.com.Compagnie Financière Tradition's interim condensed consolidatedfinancial statements for the six-month period ended 30 June 2009 areavailable on our website athttp://www.traditiongroup.com/fr/Page/rapports.html. Lausanne, 25 August 2009-------------------------------------------------------------------------------------------------------------------Press contacts:Compagnie Financière Tradition SAPatrick Combes, PresidentTel.: +41 21 343 52 66Rochat & PartnersMaryline BassetTel.: +41 22 718 37 42http://hugin.info/133362/R/1336831/318268.pdf --- End of Message ---Compagnie Financière TraditionLangallerie 11 Lausanne SwitzerlandWKN: 870121; ISIN: CH0014345117; Index: SPI, SSCI, SPIEX;Listed: Main Market in SIX Swiss Exchange;



Keywords (optional):



Company information / Profile:

PressRelease by

Requests:



PressContact / Agency:



published by: hugin
print pressrelease  send to a friend  

Date: 08/25/2009 - 06:30
Language: English
News-ID 1003554
Character count: 0
Kontakt-Informationen:
Firma: Compagnie Financière Tradition
Ansprechpartner: Feedback to businesspress24.com about Pressrelease-id:
Stadt: London
Telefon:

Comments:



Number of hits: 267

Linking-Tips:



Direct Link to this PressRelease:






We would appreciate a link in your News-, Press- or Partner-Site.

Comments on this PressRelease






All members: 9 414
Register today: 4
Register yesterday: 1
Members online: 0
Guests online: 54


Don't have an account yet? You can create one. As registered user you have some advantages like theme manager, comments configuration and post comments with your name.

Categories:


[ more PressReleases ][ RSS-Feed ]