Argentex Group PLC - Trading Update
· Revenue increased by over 30% to c.
· Strong client demand maintained during recent volatility
· Continuing rise in customer acquisition, adding 450 new corporate clients
· Robust business model and risk management systems supporting the Group's COVID-19 response
Revenue and trading
The Group's robust business model, balance sheet strength and approach to risk mitigation have ensured continuity of service for
While client demand has grown throughout the period, the currencies traded has remained consistent with historic trends, and at the end of the period over 95% of the LLP's FX portfolio is comprised of Dollar, Sterling or Euro trades.
Since the outbreak of COVID-19 and consequential government enforced actions, the priority has been to protect the health and safety of employees and their families. In line with government guidelines,
"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."
Timing of full year results
Following recent, market-wide regulatory communications from the
For further information please contact:
FTI Consulting (Financial PR)
Telephone: 0203 727 1046
Telephone: +44 (0) 20 7260 1000
This information is provided by RNS, the news service of the
Quick facts: Argentex
Market Cap: £163.3 m
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