Argentex Group PLC Trading Update (8871O)
07 Ottobre 2019 - 8:00AM
UK Regulatory
TIDMAGFX TIDMAGFX
RNS Number : 8871O
Argentex Group PLC
07 October 2019
7 October 2019
Argentex Group PLC
Trading Update
Argentex Group PLC, ("Argentex", "the Group", "the Company"),
the recently listed provider of foreign exchange services to
institutions, corporates and high net worth private individuals,
today issues a Trading Update for the first half of the financial
year ending 30 September 2019.
Argentex continued to build on its strong track record of growth
during the period, generating revenues of GBP9.3 million from 25
June 2019 to 30 September 2019, the period since the Group's
admission to the AIM market of the London Stock Exchange.
Underlying revenues for Argentex LLP, the Group's FCA regulated
trading subsidiary, for the full six-month period to 30 September
2019 were GBP13.8 million, an increase of 45% compared to Argentex
LLP's H1 2018 results (GBP9.5 million).
The performance was driven by growth in both client numbers and
currency volume traded. The Company's IPO has furthered its ability
to support increasing trading volumes going forward.
Lord Digby Jones, Non-executive Chairman of Argentex commented:
"We are pleased with the Company's performance during the period,
which reinforces our confidence in meeting expectations for the
current financial year and in the Group's long-term prospects."
Argentex will be reporting its interim results for the six
months ended 30 September 2019 on 20(th) November 2019.
For further information please contact:
FTI Consulting (Financial PR)
Ed Berry, Antonia Powell
Telephone: 0203 727 1046
argentex@fticonsulting.com
Numis Securities Limited (Nominated Adviser and Broker)
Stephen Westgate, Charlie Farquhar, Laura White, Hugo
Rubinstein
Telephone: +44 (0) 20 7260 1000
About Argentex Group PLC
Argentex is a UK-based foreign exchange service provider founded
in 2011 by its current senior management and Pacific Investments.
It operates as a Riskless Principal broker for non-speculative spot
and forward foreign exchange and structured financial derivative
contracts.
The Group delivers tailored foreign exchange advisory and
execution services to a global client base consisting principally
of institutions, corporates and high net worth private individuals.
It provides a personal client-led service, improved pricing and a
more efficient execution and settlement service than existing FX
service providers, such as banks and larger broker-dealers.
The business assists customers with foreign exchange
transactions which are related to genuine underlying business
needs. It does not engage in speculative trades for its clients,
nor does it offer margin trading, spread betting, CFDs or similar
products and it does not speculate with its own funds as
principal.
Since the business commenced trading in 2012, it has experienced
significant year-on-year growth in customers, transaction volumes
and revenue. Argentex has been profitable in every financial year
since incorporation. For the year ended 31 March 2019, Argentex
reported revenues of GBP21.9 million and operating profit of GBP9.4
million.
Argentex has a rigorous risk management culture and robust
compliance procedures. It is authorised and regulated by the FCA as
an Electronic Money Institution and is an IFPRU EUR125k Investment
Firm. Argentex only trades with Institutional Counterparties with
robust balance sheets, high credit ratings and sound capital
resources and performs rigorous KYC and AML checks prior to
accepting new clients.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
TSTCKQDQPBDDPKK
(END) Dow Jones Newswires
October 07, 2019 02:00 ET (06:00 GMT)
Grafico Azioni Argentex (LSE:AGFX)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Argentex (LSE:AGFX)
Storico
Da Apr 2023 a Apr 2024