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Swiss asset manager Leonteq sees significant increase in 2018 profit

Swiss asset manager Leonteq AG said it expects its pretax profit for 2018 to rise to around CHF90 million, citing an expected year-over-year increase in revenues and slightly higher costs.

The revised guidance for the full-year results compares to pretax profit of CHF23.3 million in 2017.

Leonteq has, to date, booked a slight decrease in net fee income for the second half, while it recorded a significant increase in its net trading result over the same period. The company expects total operating expenses for 2018 to be slightly above the cost guidance of CHF185 million Leonteq previously announced with its first-half results.

Leonteq is due to publish its audited full-year 2018 results Feb. 7, 2019.