Argentex trading update shows growth in client numbers and trading volumes boosting sales

Argentex has made a strong start, following its Aim listing in the middle of June

Argentex -
Argentex provides foreign exchange services

Argentex Group PLC (LON:AGFX), the recently listed provider of foreign exchange services to institutions, corporates and high net worth private individuals, generated revenues of £9.3mln in just over three months since its AIM flotation.

Underlying revenues for Argentex LLP, the group's FCA-regulated trading subsidiary, for the full six-month period to 30 September 2019 were £13.8mln, an increase of 45% compared to Argentex LLP's first half numbers.  

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.  

"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," said Lord Digby Jones, non-executive chairman of Argentex.

Quick facts: Argentex

Price: 193 GBX

Market: AIM
Market Cap: £218.49 m

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