Argentex Group (AGFX)

Sector:

Financials

Index:

FTSE AIM All-Share

136.00p
   
  • Change Today:
    -3.50p
  • 52 Week High: 139.50
  • 52 Week Low: 68.60
  • Currency: UK Pounds
  • Shares Issued: 113.21m
  • Volume: 93,540
  • Market Cap: £153.96m
  • RiskGrade: 236

Argentex upbeat after recent, 'exceptional' trading

By Josh White

Date: Monday 03 Oct 2022

LONDON (ShareCast) - (Sharecast News) - Foreign exchange service provider Argentex Group said in an update on Monday that it expected to report first-half revenue of £27.4m, making for a 75% increase year-on-year.
The AIM-traded firm said costs remained in line with management expectations in the six months ended 30 June, adding that client demand continued strongly, with the number of corporate clients trading growing to 1,393 from 1,241 a year ago.

It said the growth was driven by its core UK proposition, and a "disciplined approach" to costs, in line with guidance.

The performance was also supported by more favourable market dynamics, with the recent historic lows in sterling presenting "exceptional" short-term trading conditions.

Momentum was also building behind the company's long-term growth pillars, the directors explained, as it created a "more technology-enabled" platform, added and retained key talent, and gradually built its international presence.

As a result, the board said it was confident that the company would exceed current market expectations for the year ending 31 December.

"The strong performance during the period is defined by a 75% uptick in group revenues, demonstrating our strategy is delivering results as we unlock the long-term growth potential of Argentex," said chief executive officer Harry Adams.

"The board is confident in the group's ability to exceed current market expectations and to continue generating positive outcomes for clients, employees and shareholders.

"While current market dynamics, specifically the historic lows in sterling, present exceptional short-term trading conditions, our long-term growth strategy and outlook remain unchanged."

Argentex said it would report its interim results for the six months ended 30 September on 8 November.

At 1254 BST, shares in Argentex Group were up 12.99% at 102.26p.

Reporting by Josh White at Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Argentex Group Market Data

Currency UK Pounds
Share Price 136.00p
Change Today -3.50p
% Change -2.51 %
52 Week High 139.50
52 Week Low 68.60
Volume 93,540
Shares Issued 113.21m
Market Cap £153.96m
RiskGrade 236

Argentex Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
83.12% below the market average83.12% below the market average83.12% below the market average83.12% below the market average83.12% below the market average
81.97% below the sector average81.97% below the sector average81.97% below the sector average81.97% below the sector average81.97% below the sector average
Price Trend
91.41% above the market average91.41% above the market average91.41% above the market average91.41% above the market average91.41% above the market average
89.15% above the sector average89.15% above the sector average89.15% above the sector average89.15% above the sector average89.15% above the sector average
Income
12.29% above the market average12.29% above the market average12.29% above the market average12.29% above the market average12.29% above the market average
18.42% below the sector average18.42% below the sector average18.42% below the sector average18.42% below the sector average18.42% below the sector average
Growth
12.82% below the market average12.82% below the market average12.82% below the market average12.82% below the market average12.82% below the market average
33.9% below the sector average33.9% below the sector average33.9% below the sector average33.9% below the sector average33.9% below the sector average

Argentex Group Dividends

  Latest Previous
  Final Interim
Ex-Div 25-Aug-22 09-Dec-21
Paid 26-Sep-22 08-Jan-22
Amount 1.25p 0.75p

Trades for 03-Feb-2023

Time Volume / Share Price
16:03 25,000 @ 135.96p
16:35 2,335 @ 136.00p
16:35 1 @ 136.00p
16:35 140 @ 136.00p
16:35 107 @ 136.00p

Argentex Group Key Personnel

CEO Harry Adams
CFO Jo Stent

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