Argentex, which provides FX services to corporate and private clients across EMEA, reported revenue and profit growth over the last 12 months, ending March 31st.
It’s revenue over this period was £21.9 million, and the operating profit was £11.5 million.
In a release issued today the firm says that this revenue, which represents a 66% year-on-year increase, was driven by a 38% increase in gross notional currency traded, to £10.8bn. Argentex also attributes additional revenue to its new options products and an increasingly productive sales team. It’s operating profit, meanwhile, was up 77% year-on-year.
Carl Jani, co-founder and co-CEO of Argentex comments: “We are pleased to announce another year of record revenue growth, up 66% on the prior year. We have delivered 46% compound growth since 2016, as well as a record month of trading in March. Improved productivity, diversification of our revenue base and the launch of options products have all driven growth in this financial year.”
Harry Adams, co-founder and co-CEO of Argentex, adds: “After a positive start to the 2020 financial year, we remain confident about the huge addressable market opportunity for Argentex. We look forward driving sales growth in the coming year, through the expansion of our sales team and revenue diversification.”