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Argentex posts maiden profit since June listing

By BFN News | 01:30 PM | Wednesday 20 November, 2019


FX services provider Argentex posted a maiden pre-tax profit of £3.2m in the period between its listing in June and the end of September. Revenue was £9.3m, and, on an underlying basis, rose 42% to £13.8m. Underlying profits after members' remuneration rose to £6.5m, up from £2.6m. 'During the period, we reached a significant milestone in the company's history, when we were successfully admitted to trading on AIM in June,' co-chief executives Harry Adams and Carl Jani said. 'At that time, we had a clear message of commitment to our growth strategy and proven business model, which has delivered profitable growth since inception.' 'We look forward to generating returns for our new investors by continuing to address underserved parts of the FX market and using our stronger balance sheet to grow organically whilst selectively taking advantage of long-term opportunities that are now available to us.' At 1:30pm: (LON:AGFX) share price was -5.5p at 167.25p Story provided by StockMarketWire.com

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