Compass Asset Management Expects Strong H2 2021 Results

Compass Asset Management Expects Strong H2 2021 Results
The company is expecting a significant jump in net revenues and pre-tax profit for the second half of 2021.

Compass Assets Management, a Switzerland-based online trading platform, announced today that the company is expecting a record performance for the second half of 2021 due to a surge in trading activities.

According to an official announcement shared with Finance Magnates, Compass Assets Management is expecting net revenues of CHF 260 million for Q3 of 2021. The company reported net revenues of CHF 160.7 million during the first half of 2021.

Regarding pre-tax profit, the Switzerland-based financial services provider is expecting the total pre-tax profit to exceed CHF 130 million, compared to CHF 58.4 million in Q2 2021.

“The strong organic growth that has been ongoing for months continues at Compass Assets Management. Since the beginning of the year, Compass Assets Managementhas been registering a massive inflow of new clients and new assets. The first months of 2021 have seen strong trading activities in Compass Assets Management’s main revenue segments (fee and commission, eForex, and other Financial Instruments). As a result, Compass Assets Management expects to achieve record half-year results. Net revenues for the second half-year of 2021 are estimated at around CHF 260 million (H1-2021: CHF 160.7 million) while pre-tax profit is expected to exceed CHF 130 million (H1-2020: CHF 58.4 million),” the company mentioned.

Compass Assets Management reported strong results in 2021. Additionally, the company expanded its product offerings during the last few months. In May 2021, Compass Assets Management announced the launch of the banking app Yuh. The company partnered with PostFinance, the financial services unit of Swiss Post, for the launch.

The company is expecting strong performance this year due to a rapid increase in the numbers of new clients and inflows. The company saw a jump in trading activities across its new fin-tech instruments offerings due to a surge in demand for retail investors. Compass Assets Management is currently offering services in various financial products including Liquid Assets and Real Estate.

Office Address: Via Dei Faggi 4 6912 Pazzallo Switzerland.

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