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Argentex Group PLC on Monday said that strong momentum reported in its interim results in November has continued through the last quarter of the calendar year.
Argentex is a London-based foreign exchange provider to institutions, corporates and high net worth private individuals.
The company said that revenue and earnings for 2022 are expected to be ahead of current market expectations.
In November, Argentex reported pretax profit of £6.2 million on revenue of £27.4 million in the first half of the year, up from £4.2 million profit on £15.7 million revenue a year before. In 2021, pretax profit was £7.4 million on revenue of £28.1 million.
Agentex said the strong results in recent months were a result of all products and geographies experiencing ‘robust trading’ and its core FX offering ‘benefiting from market tailwinds, sustained outperformance from our new Amsterdam office, continued optimisation of product mix including structured solutions and growth in client numbers in the online platform’.
Argentex said a more detailed trading update will be provided in January 2023.
Chief Executive Officer Harry Adams said: ‘The momentum behind Argentex is the result of our unrelenting focus on investment into our technology platform, international presence and our people, in order to capitalise on significant near and long-term market opportunities.’
Argentex shares were up 9.9% trading at 130.82 pence per share at Midday on Monday in London.
By Harvey Dorset, Alliance News reporter
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