Find out how Argentex has helped a UK water sports retailer align their international payments strategy with seasonal cashflow.
The problem: Dwindling profit margins
In times of market instability, importers without a dedicated FX strategy are at the mercy of fluctuations in currency markets. As a specialist in water sports, one of Argentex’s London-based clients imports paddleboards from the US to sell to consumers, boasting approximately 10,000 customers, including schools across the UK. With an annual exposure of approximately six million pounds, the retailer purchased US dollars as and when they required stock. Business was consistent. However, due to volatile currency markets, the team had been struggling to sustain their profit margins.
Argentex Group plc (LON:AGFX) is a leading provider of bespoke currency risk management and payments solutions for businesses and financial institutions