| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
Argentex profit slips in H1 as deferred client activity dents revenue
StockMarketWire.com
|
Foreign exchange services provider Argentex reported a fall in profit as clients deferred trading activity amid global market uncertainty.
For the six-month period ended 30 September 2020, pre-tax profit fell to £3.5 million from £4.1 million year-on-year as revenue slipped 14.7% to £11.8m
The weakness was driven by 'part of our client base deferring its trading activity in the face of growing uncertainty in global markets,' the company said.
Post period end, from October onwards, the general economic and trading environment continued to improve. 'This will offer substantial opportunities for Argentex, but it is still too early for the board to be confident that trading has sustainably returned to pre-pandemic levels,' it added.
Story provided by StockMarketWire.com
|
|
|
|
|
|
