Flow Traders hits over 2-year low on Q2 profit miss

Flow Traders

22/07/2022 08:30

** Shares in Flow Traders  FLOW.AS  drop 11% to their lowest
price since March 2020 as lower trading income, one-off cost due
to strategic review weighed the trading services provider's
results  urn:newsml:reuters.com:*:nL1N2Z30B6
    ** KBC Securities says the Dutch company's Q2 net result,
which slumped 53% QoQ to EUR 26.1 million ($26.64 million), came
in "at less than half of expectation" 
    ** "Base salaries have been increased, compensated by
lowering profit sharing scheme from 35% of operating result to
32.5%," the brokerage adds
    ** The company cited a shift in total compensation mix
towards higher levels of base compensation and the impact of the
strengthening U.S. dollar
    ** "This quarter demonstrates the black-box nature of the
trading business," KBC says, pointing to volatility in the P&L
which "will continue to be a burden"
    ** The stock of Flow Traders is down about 30% YTD

($1 = 0.9796 euros)

 (Reporting by Juliette Portala)
 ((juliette.portala@tr.com))