Argentex Group PLC
LSE:AGFX
Argentex Group PLC
Argentex Group Plc engages in the provision of foreign exchange service for either immediate delivery or for delivery at a fixed exchange rate at a future date. The firm operates through its subsidiaries, Argentex Capital Limited, Argentex Foreign Exchange Limited and Argentex LLP. The principal activities of the Company’s main trading subsidiary undertaking are that of foreign exchange services, primarily the provision of foreign exchange execution and advisory services to corporate and institutional clients.
Argentex Group Plc engages in the provision of foreign exchange service for either immediate delivery or for delivery at a fixed exchange rate at a future date. The firm operates through its subsidiaries, Argentex Capital Limited, Argentex Foreign Exchange Limited and Argentex LLP. The principal activities of the Company’s main trading subsidiary undertaking are that of foreign exchange services, primarily the provision of foreign exchange execution and advisory services to corporate and institutional clients.
Record Revenue: Argentex delivered record interim revenues of GBP 25 million, up 28%, with strong contributions from new business.
Product Diversification: New digital and alternative transaction banking products are gaining traction, now making up 15% of revenues compared to 9% previously.
Operating Margins: Adjusted operating profit margins declined as planned due to ongoing investment in growth, but adjusted operating profit increased 13%.
Cash Generation: The company generated GBP 7.6 million in operating cash flow, supporting growth initiatives while remaining debt-free.
European Expansion: Revenue from Europe more than doubled, with digital adoption ahead of expectations in the region.
Positive Outlook: Despite challenging trading conditions and a seasonal slowdown, management is confident in achieving further growth through product and geographic expansion.
