(AOF) – The French investment company Viel & Cie (Compagnie Financière Tradition, Bourse Direct, etc.) has published its results for the first half. It recorded a sharp increase in net income (+48.6%) as well as operating income up 13.9% to 65 million euros, all at current exchange rates. Consolidated turnover in the first half also increased (+12.7%) to 494.2 million euros. The operating margin stands at 9.3% against 10.1% over the same period in 2021.
The financial result shows a net income of 8.2 million euros in the first half of 2022 compared to a loss of 4.6 million euros over the same period in 2021. This variation is mainly explained by a very positive foreign exchange result observed over the period. Net foreign exchange results due to currency fluctuations have a positive impact on the group’s financial result and represent a net gain of 15.4 million euros mainly due to a latent foreign exchange gain on the Russian ruble, against a net foreign exchange loss in the first half of 2021 of €0.4 million.
In its professional intermediation activity, the level of activity during the summer shows an increase of around 15% compared to the same period last year. Compagnie Financière Tradition intends to pursue its growth strategy while maintaining its focus on cost management.
On its online trading activity, activity fell during the summer. Bourse Direct intends to continue to offer its customers ever more innovative services, on all mobile media, by adapting its offer to technological developments, while maintaining the most competitive prices on the market, combined with a service of experts in scholarship and pedagogy. In addition, Bourse Direct will accelerate the development of its Savings division.
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