After today’s positive 1st half results & 'in line' FY'23 guidance, CEO Harry Adams, CFO Jo Stent and COO David Christie of Argentex - a specialist provider of foreign exchange services to corporates & institutions - take me through the:
a) Key top & bottom line growth drivers.
b) Global expansion strategy.
c) Client focused technology platform.
d) Long term 'aspirational' targets.
Disclosure: Vox markets paid me to interview Argentex
Stocks owned : EQLS, AGFX, Pfizer, Bristol Myers, Roche, WATR, VCT, MBH, ASTO, IOM, TR25, ESYS, ELCO, IHC, Paypal & AOM Elsewhere, I'm also paid by Vox Markets (as a contractor) to interview interview fund managers, capital market experts & companies (re EQLS, VRCI, BELL, FIN, AVG, AVCT, LLAI, VLG, FADL, SUP, ELCO, LORD , MPAC & ONC). I believe all these stocks are clients of Vox.Lastly my 24 year HIT RATE is only 62%. Meaning 38% of the time I lose money (ie often wrong) - albeit my winners are (on average) 1.5x larger than my losers. Please Do Your Own Research. more »
Paul, thanks for posting that video made my journey to work quite enjoyable.
Was wondering what to do after yesterday's fall, but if we take them at face value then interesting times ahead. They are just a "rounding error" in the scheme of things. Once they get the Australian licence it sounds very interesting.
Agreed GB. To me AGFX is a well run & expanding business with a large TAM. Plus July /Aug are seasonally weak anyway - so £10m of Q3'TD revs (to 05/09) is not actually a bad result.
I held Argentex but ultimately concluded that there was too much opacity around the LLP payments for me to continue holding. There's no detail in the interims about how much has been charged for these, but it's noticeable that the % increase in operating profit could not match the % increase in revenue. Would be helpful if when you next interview them to get some detail on how these payments are calculated.
Paul - have you got any idea what is going on at Argentex (LON:AGFX) ?
Losing Harry and now the CFO looks like very poor board management whilst communication has frankly been terrible.
Given MAR rules they are obligated to flag any material changes to trading immediately so I raise this here because if a poor trading statement came out that was the clear reason for board changes they would need to be reported to the FCA for market abuse, which clearly wouldn’t sit well with a regulated company. Therefore my assumption is that trading is broadly in-line, having not been told otherwise.
But have you had any insight into this board coup?
Clearly there's masses going on in the background, but unfortunately I have no specific insight.
To me guesswork would say that despite FY23/24 estimates probably needing to be reset - the shareprice collapse does look a little over-cooked.
Reflecting lots of sellers but few buyers until the dust settles .
If 23/24 estimates need to be reset then that is a breach of MAR if they haven’t already announced it.
They can only not announce it if they are unaware, which in this case would clearly not be the case.
