Compagnie Financière Tradition, a Swiss broker, had a 19 percent higher profit in 2019 than a year earlier. The board promised to give shareholders something extra in return.
Compagnie Financière Tradition (CRT), a Lausanne-based broker, had a profit of 60.4 million Swiss francs ($63.9 million) in 2019, up from 50.8 million in 2018, according to a statement released on Friday. Revenue was up almost 5 percent to 1.01 billion.
The company paid almost half as much in taxes last year than in 2018 (8.1 million francs vs. 15.3 million), following the recognition of tax losses in the U.S. The lower tax payments were responsible for a major part of the increase in profit.
Increase in Volatility
CFT said volatility had risen since the beginning of the year, with a notable increase in the month of March. The volatility had resulted in an increase in transaction volumes. The company aims to participate in the ongoing consolidation of the industry and «remains focused on external growth opportunities», as it noted in today’s release.
The plans to pay an unchanged dividend of 5 francs per share. In addition, an exceptional distribution of treasury shares will also be proposed with one share distributed for each 50 shares held.
