Argentex Group PLC – Trading Update

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 £9.3 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 £13.8 million, an increase of 45% compared to Argentex LLP’s H1 2018 results (£9.5 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 20th November 2019.

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