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6:31 | 25.08.2009
PRESS RELEASE: Turnover of CHF 743.6 million – Operating profit of CHF 91.8 million – Group share of net profit – CHF 54.3 million
PRESS RELEASE: Turnover of CHF 743.6 million – Operating profit of CHF 91.8 million – Group share of net profit – CHF 54.3 million
Corporate news announcement processed and transmitted by Hugin AS.
The issuer is solely responsible for the content of this
announcement.
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+-----------------------------------------------+
| | | |
| 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 the
first half of 2009 at CHF 743.6 million, compared with CHF 788.3
million for the same period in 2008, a slight decrease of 1.7% at
constant exchange rates (a decrease of 5.7% at current exchange
rates).
Consolidated operating profit for the period fell 8.0% to CHF
91.8 million from CHF 99.8 million a year ago. Operating profit
benefited from gains of CHF 25.6 million on the realisation of stakes
in Group companies, including an investment in Reset Holding (Pte)
Ltd.
Taking into account these gains, the consolidated operating margin
was 12.4% of consolidated turnover compared with 12.7% a year ago.
Group share of consolidated net profit for the period was CHF 54.3
million 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 in
the 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 the
first half of 2009, or 32.3% of profit before tax, compared with CHF
44.6 million in 2008 or 43.1% in first-half 2008.
Consolidated net profit for the period rose to CHF 62.9 million from
CHF 57.8 million in the first six months of last year, bringing the
net margin to 8.5% of consolidated turnover against 7.3% in the
year-ago period.
Group share of net profit rose by 16.6% to CHF 54.3 million, against
CHF 46.5 million in H1 2008. This result brought consolidated equity
to CHF 412.0 million at 30 June 2009, CHF 354.3 million of which was
attributable to Company shareholders.
In the second half of 2009, it is unlikely that market volatility and
market activity will reach the levels we saw in 2008. In this
competitive environment, Compagnie Financière Tradition will pursue
its strict cost control policy and maintain it focus on organic
growth, in order to position the Group as a key international player
and sector leader.
With a presence in 27 countries, Compagnie Financière Tradition SA is
a leading interdealer broker (IDB) in the international market. 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).
Compagnie Financière Tradition is listed on the SIX Swiss Exchange
(CFT). For more information on our Group, visit our website at
www.viel.com.
Compagnie Financière Tradition's interim condensed consolidated
financial statements for the six-month period ended 30 June 2009 are
available on our website at
http://www.traditiongroup.com/fr/Page/rapports.html.
Lausanne, 25 August 2009
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Press contacts:
Compagnie Financière Tradition SA
Patrick Combes, President
Tel.: +41 21 343 52 66
Rochat & Partners
Maryline Basset
Tel.: +41 22 718 37 42
=-- End of Message ---
Compagnie Financière Tradition
Langallerie 11 Lausanne
Switzerland
WKN: 870121; ISIN: CH0014345117; Index: SPI, SSCI, SPIEX;
Listed:
Main Market in SIX Swiss Exchange;
http://hugin.info/133362/R/1336829/318267.pdf
http://www.traditiongroup.com
Copyright © Hugin AS 2009. All rights reserved.
(END) Dow Jones Newswires August 25, 2009 00:31 ET (04:31 GMT) |
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