Trading Statement

Argentex Group PLC

10 November 2023

 

10 November 2023

Argentex Group plc

("Argentex" or the "Company")

Trading Statement

Argentex Group plc (AIM: AGFX), announces that following a review of its financial forecasts, the Board of Argentex expects to report revenue and operating profit for the year ending 31 December 2023 at approximately the same levels as for the twelve months ended 31 December 2022, which are below current market forecasts.

Jim Ormonde, Interim Chief Executive Officer commented:

"Obviously it is very disappointing that the numbers for this year are likely to show little, if any, improvement on last year and current market conditions remain challenging. However, Argentex continues to be a stable, profitable and cash generative business.

We are in the process of concluding a review of our strategy, which we will communicate to investors in the New Year, and we remain confident that there is a significant market opportunity for us to exploit."

The information contained within this announcement is deemed by the Group to constitute inside
information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the
publication of this announcement via a Regulatory Information Service, this inside information is now
considered to be in the public domain.

For further information, please contact:

Argentex Group PLC

Nigel Railton - Chairman

Jim Ormonde - Interim Chief Executive Officer

[e-mail]

Singer Capital Markets (Nominated Adviser and Broker)

Tom Salvesen / James Maxwell / Justin McKeegan / Angus Campbell

020 7496 3000

 

END