Flow Traders’ net trade sales amounted to € 229.9 million in the second quarter, compared to € 495 million in the first three months of this year. In the second quarter of last year, the turnover of Flow Traders was 53.9 million euros. Those results were in line with expectations, ING analyst Albert Ploegh writes. According to him, the figures for July look good, but the volumes are slightly lower than in May and June.
Camping at work
On the other hand, the costs, especially for the personnel, were also considerably lower. During the first quarter, Flow Traders had to pull out all the stops and staff camped at work to avoid being hit by corona quarantines. As a result, the personnel costs rose to 154.9 million euros. In the past period, this decreased by more than half.
Bottom line, the stock market intermediary was left with 113 million euros, compared to 262.3 million euros in the first quarter. Flow Traders pays an interim dividend of 4 euros per share.
Cleary 2H20 remains unknown, but July statistics still look decent albeit pointing to some further softening vs May-June.
“Flow Traders Gains Market Share”
This is what DFT reporter Dorinde Meuzelaar thinks:
“It was to be expected that Flow Traders would have a quieter quarter compared to the first three months of the year. But the trade turnover rose by 66% in the first half of 2020, compared to the same period in 2019. This means that the Amsterdam trading house outperformed the market this quarter, and gained market share. ”
Follow Dorinde Meuzelaar on Twitter: @Dorinde_M
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