Argentex revenue up 30% in 2H 2019 report

Argentex Group PLC, provider of foreign exchange services to institutions, corporates and high net worth private individuals, has just released its trading update for the 12 months to 31 March 2020.

Highlights for Argentex LLP (the Group’s FCA regulated trading subsidiary), for the 12 months to 31 March 2020 include:

  • Revenue was up 30% to c.£29m (2019: £21.9m)
  • Strong client demand maintained during recent volatility
  • 450 new corporate clients added

Revenue and trading

Argentex is expecting to report a c.30% increase in revenues to c.£29 million for the 12 months to 31 March 2020 (2019: £21.9 million), with FX turnover exceeding £12bn (2019: £10.8bn).

Argentex revenues

Harry Adams and Carl Jani, Co-CEOs commented:

While it is too early to ascertain the full ramifications of COVID-19 on markets and corporates alike, the Group’s high quality, credit worthy client base, risk framework and disciplined liquidity management positions the Group well in pursuit of its long-term growth objectives.

Our continued strong performance underlines the commitment to our growth strategy and proven business model, and we are confident in our ability to deliver our leading FX services and advice to our clients, while generating returns to investors.

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