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6:46 | 01.09.2008
DJ HUGIN NEWS/Compagnie Financière Tradition reports solid growth in first half activities: Consolidated turnover up 16.5% to CHF 788.3 million – Operating profit up by 22.7% to CHF 99.8 million – Group share of net profit – CHF 46.5 million
DJ HUGIN NEWS/Compagnie Financière Tradition reports solid growth in first half activities: Consolidated turnover up 16.5% to CHF 788.3 million – Operating profit up by 22.7% to CHF 99.8 million – Group share of net profit – CHF 46.5 million
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+-------------------------------------------------------------------+
| | | |
| CHFm | H1 2008 | H1 2007 |
| | | |
|-----------------------------------------------+---------+---------|
| Consolidated turnover | 788.3 | 676.7 |
|-----------------------------------------------+---------+---------|
| Operating profit | 99.8 | 81.3 |
|-----------------------------------------------+---------+---------|
| Operating margin | 12.7 % | 12.0 % |
|-----------------------------------------------+---------+---------|
| Profit before tax | 103.4 | 92.3 |
|-----------------------------------------------+---------+---------|
| Net profit from continuing operations | 58.8 | 56.9 |
|-----------------------------------------------+---------+---------|
| Profit/(loss) after tax from discontinued | -1.0 | -8.0 |
| operations | | |
|-----------------------------------------------+---------+---------|
| Net profit for the period | 57.8 | 48.9 |
|-----------------------------------------------+---------+---------|
| Group share of net profit | 46.5 | 39.1 |
|-----------------------------------------------+---------+---------|
| Minority interests | 11.2 | 9.8 |
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Consolidated turnover for the period rose to CHF 788.3 million, up
16.5% from CHF 676.7 million a year ago (31.8% at constant exchange
rates).
First-half consolidated operating profit was up 22.7% to CHF 99.8
million (H1 2007: CHF 81.3 million), bringing the operating margin to
12.7% of consolidated turnover (H1 2007: 12.0%).
Profit before tax from continuing activities was CHF 103.4 million, a
rise of 12.0% from CHF 92.3 million a year ago, giving a pre-tax
return of 13.1% (H1 2007: 13.6%).
The consolidated tax charge for the period was CHF 44.6 million,
against CHF 35.4 last year.
Consolidated net profit rose to CHF 57.8 million from CHF 48.9
million in the first six months of last year, bringing the net margin
to 7.3% of consolidated turnover (H1 2007: 7.2%).
Net profit attributable to minority interests was CHF 11.2 million
(H1 2007: CHF 9.8 million).
Net profit attributable to Company shareholders rose 18.9% to CHF
46.5 million (H1 2007: CHF 39.1 million). This result brought
consolidated equity to CHF 308.9 million at 30 June 2008, CHF 266.6
million of which was attributable to Company shareholders.
Compagnie Financière Tradition will pursue its organic growth policy
in the second half of 2008. New teams will be brought on board to
strengthen our product portfolio and we will further expand our
footprint in the new financial centres. The main event on this agenda
will be the opening of an office in China in September. We will
continue to maintain tight control of our cost base in order to
steadily improve our operating margin. In a highly competitive market
environment, where the consolidation process has not yet run its
course, size is of major importance. Compagnie Financière Tradition
will maintain its focus on positioning the Group as an international
leader in the sector.
With a presence in 26 countries, Compagnie Financière Tradition 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 (precious
metals, and energy and environmental products).
Compagnie Financière Tradition is listed on the SWX Swiss Exchange
(CFT). Find out more about our Group at www.traditiongroup.com.
Lausanne, 1 September 2008
Press contacts:
Compagnie Financière Tradition
Patrick Combes, President
Tel. +41 21 343 52 52
Rochat & Partners
Olivia Maillot
Tel. +41 22 718 37 53
=-- End of Message ---
Compagnie Financière Tradition
Langallerie 11 Lausanne
Switzerland
WKN: 870121; ISIN: CH0014345117; Index: SPI, SSCI, SPIEX;
Listed:
Main Market in SWX Swiss Exchange;
http://hugin.info/133362/R/1247597/270244.pdf
http://www.traditiongroup.com
Copyright © Hugin AS 2008. All rights reserved.
(END) Dow Jones Newswires September 01, 2008 00:46 ET (04:46 GMT) |
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