Bourse Direct reports strong financial performance in first half of 2024, with revenue and profit growth.
From NASDAQ GlobeNewswire: 2024-07-25 01:30:00
Bourse Direct announced its consolidated results for the first half of 2024, with a net banking product of €36.0 million, up 15.8%, and an operating profit of €14.2 million, up 24.7%. New account recruitment saw an acceleration, with over 333,000 accounts by June 30, 2024, and a 19.9% growth from the previous year. EXOE, a subsidiary of Bourse Direct, reported a 16.8% increase in revenue and a 31.2% rise in net profit compared to the first half of 2023.
Bourse Direct saw a 0.6% increase in executed order volume to 2.4 million in the first half of 2024. The consolidated banking operating product reached €38.4 million, up 14.2% from the same period in 2023. The net banking product increased to €36.0 million, a 15.8% rise, while general operating expenses grew to €20.1 million, a 10.9% increase due to factors related to profit growth.
With a consolidated net profit of €10.4 million for the first half of 2024, up 25.3% from the previous year, Bourse Direct’s financial statement showcased a robust balance sheet. The company’s consolidated equity stood at €71.1 million by June 30, 2024, and a consolidated cash reserve of €44.5 million. Bourse Direct remains committed to offering innovative services with competitive pricing, including launching a securities lending service for clients in July 2024.
Maintaining a focus on expertise, Bourse Direct continues to cater to both individual and professional clients through its subsidiary, EXOE, offering independent and neutral execution services for institutional investors. The company’s strategic priorities include customer education, promoting its institutional client base, and enhancing its savings division. Bourse Direct anticipates a solid financial outlook for 2024, supported by recurring interest income and stable results mirroring its first-half performance.
Read more at NASDAQ GlobeNewswire:: Résultats consolidés du 1er semestre 2024.