The Group has reported overall solid results for its first full year as a public company.
Argentex Group PLC, a provider of foreign exchange (Forex) services, has announced its financial results for its first full year as a public company, which ended on 31st March 2020.
During the 12 month period, Argentex, which provides FX services to institutions, corporate clients and high net worth private individuals, reported a Group revenue of £28.9 million. This is greater than the company’s 2019 revenue of £21.9 million by 32.2 per cent.
The company said in a statement today that growth in revenue was driven by strong client demand and increased client activity. In particular, the firm recorded 380 new corporate clients that traded during the period. The number of corporates actively trading was 1,212 - which is an increase of 12 per cent.
FX Turnover Increased by 12% YoY on Argentex
Turnover for foreign exchange increased by 12 per cent over the year, climbing from £10.8 billion in 2019 to £12.1 billion for its first year.
95 per cent of Argentex’s FX portfolio was made up of the United States dollar (USD), British pound (GBP) and Euro (EUR) trades. During this time, the company witnessed a strong uptake of its FX Options book.
The underlying profit for the FX services provider came in at £12.5 million for the year. This represents an uptick of 28 per cent when measured against the prior year, which showed an underlying profit of £9.7 million.
Commenting on the financial results, Carl Jani, the Co-Chief Executive Officer of Argentex, said in the statement: “It has been an excellent first year trading as a listed business in which we have continued to generate double digit revenue and profit growth supported by an expanding, increasingly active and high-quality client base.
“When joining the London Stock Exchange’s AIM in June 2019, we had a clear commitment to our growth strategy and proven business model and since then, we are proud to have gone from strength to strength while considerably increasing the scale and breadth of our business.”
Argentex Group PLC, a provider of foreign exchange (Forex) services, has announced its financial results for its first full year as a public company, which ended on 31st March 2020.
During the 12 month period, Argentex, which provides FX services to institutions, corporate clients and high net worth private individuals, reported a Group revenue of £28.9 million. This is greater than the company’s 2019 revenue of £21.9 million by 32.2 per cent.
The company said in a statement today that growth in revenue was driven by strong client demand and increased client activity. In particular, the firm recorded 380 new corporate clients that traded during the period. The number of corporates actively trading was 1,212 - which is an increase of 12 per cent.
FX Turnover Increased by 12% YoY on Argentex
Turnover for foreign exchange increased by 12 per cent over the year, climbing from £10.8 billion in 2019 to £12.1 billion for its first year.
95 per cent of Argentex’s FX portfolio was made up of the United States dollar (USD), British pound (GBP) and Euro (EUR) trades. During this time, the company witnessed a strong uptake of its FX Options book.
The underlying profit for the FX services provider came in at £12.5 million for the year. This represents an uptick of 28 per cent when measured against the prior year, which showed an underlying profit of £9.7 million.
Commenting on the financial results, Carl Jani, the Co-Chief Executive Officer of Argentex, said in the statement: “It has been an excellent first year trading as a listed business in which we have continued to generate double digit revenue and profit growth supported by an expanding, increasingly active and high-quality client base.
“When joining the London Stock Exchange’s AIM in June 2019, we had a clear commitment to our growth strategy and proven business model and since then, we are proud to have gone from strength to strength while considerably increasing the scale and breadth of our business.”
FX Volatility Impacts Q1 Revenue of Compagnie Financière Tradition
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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