Compagnie Financière Tradition realised its fourth consecutive year of strong growth, achieving its ambition to establish itself as a leading global financial broker.
The Company posted a consolidated turnover of CHF 645.1 million in 2000, compared with consolidated revenues of CHF 496.6 million in the previous period, a year-on-year rise of 30%. This outperformance represents an increase in consolidated turnover of 19.2% in constant terms.
Consolidated pre-tax profit rose 52% to CHF 66.9 million, compared with CHF 44.2 million the previous year. Consolidated net profit increased by 44% over the year to CHF 33.5 million, bringing the consolidated net margin to 5.2% of consolidated turnover.
Group share of net profit reached CHF 28 million, a rise of 68% over 1999, or CHF 21.6 per share. This performance brings the annualized return on consolidated equity to 21%. Group equity stood at
CHF 176.4 million at 31 December 2000, for a net cash position of CHF 117.1 million.
During the year, Compagnie Financière Tradition continued to grow its operations around the globe, balancing the geographic spread of activities between Europe, the United States and Asia, which represent respectively 47%, 35% and 18% of consolidated revenues. In parallel, the Company enhanced its presence in the securities markets, with brokerage activities in this area accounting for 26% of revenues, 10% of which were in equities and equity derivatives. Underscoring this performance was the takeover of the American company Asiel & Co. LLC on 30 June 2000, which made Compagnie Financière Tradition a member of the NYSE.
This very favourable trend has carried over into the first two months of 2001 and should continue throughout the year, fuelled by the dynamism of the brokerage teams around the world, and the integration of cutting-edge technologies throughout the Company's operations.
The Annual General Meeting of Shareholders, scheduled for 11 May 2001, will be asked to approve a dividend of CHF 6 per share, an increase of 20% over the previous year. This dividend represents a yield of 3% on the quoted share price at 12 March 2001, of CHF 200.
Compagnie Financière Tradition is one of the world's top five brokers in over-the-counter (OTC) financial and non-financial products, and No. 1 in continental Europe. With a presence in 14 countries, Compagnie Financière Tradition offers a broad portfolio of both financial (money markets, currencies, interest rate derivatives, credit derivatives, stocks and bonds, etc.) and non-financial products (precious metals, energy, paper, etc.).