Argentex Forecasts 75% Revenue Boost in H1 2023 on Pound Drop
Argentex, a UK-based currency exchange specialist, is celebrating robust growth driven by its core UK proposition and a disciplined approach to costs. The company is forecasting a significant revenue boost in the first half of 2023.
Argentex is projecting a 75% year-on-year revenue increase, with turnover expected to reach £27.4m in H1 2023. This impressive growth can be attributed to the historic drop in the pound, which has created 'exceptional' short-term trading conditions for the company.
The company's client base is also expanding. Argentex expects to report 1,393 corporate clients in H1 2023, marking a 12% increase from the previous period. To build on this growth, Argentex plans to focus on attracting and retaining talent, as well as expanding internationally and enhancing its currency converter platform.
In H1 2023, Argentex targeted Spain and Italy for expanding its presence, aiming to tap into the growing demand for currency exchange services in these markets.
Argentex's strong performance in H1 2023 is a testament to its strategic approach to the currency exchange market. The company's focus on growth, both in the UK and internationally, is set to continue, with a particular emphasis on expanding its client base and enhancing its currency converter platform.
