Following a review of its financial forecasts, Argentex Group PLC (AIM:AGFX) has stated that full-year revenues and operating profit will be below current forecasts.
The AIM-listed foreign exchange specialist now expects the results for the year ending 31 December 2023 to be the same as the prior year.
Interim chief executive Jim Ormonde stated: "Obviously it is very disappointing that the numbers for this year are likely to show little, if any, improvement on last year and current market conditions remain challenging.”
However, Ormonde noted that Argentex “continues to be a stable, profitable and cash generative business”.
He continued: “We are in the process of concluding a review of our strategy, which we will communicate to investors in the New Year, and we remain confident that there is a significant market opportunity for us to exploit."