Things have gone from bad to worse at Geneva based Retail FX and CFDs broker Dukascopy Bank SA, with the company continuing to see its Revenues decline in the first half of 2024, and Dukascopy posting its first Operating Loss since 2018.
Revenues at Dukascopy fell by 38% in H1 2024, to CHF 7.1 million (USD $8.4 million) from CHF 11.4 million in the second half of 2023. This also marks the first time that Dukascopy’s semi-annual consolidated Revenues dropped below the CHF 10 million level since the mid 2010’s.
The company’s core Revenue from trading activities (i.e. brokerage) fell by 47% from CHF 9.6 million last year in H1-2023 to just CHF 5.1 million in H1-2024. Dukascopy benefited somewhat in 2024 from higher interest rates, with Net Interest Income up to CHF 1.3 million, from CHF 686K last year.
Dukascopy saw its decline in Revenue turn into a CHF 3.1 million (USD $3.7 million) Operating Loss in H1-2024 –…
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