It really shouldn't take Alpha FX #AFX reporting decent results for Argentex #AGFX to rise nearly 10% - it was sent out to IPO far too cheaply
Argentex #AGFX did £9.3M in the 3 months to September; £13.8M in the HY, up 45%.
Market cap is £160M
At a run rate of ~£3M per month with operating margins of ~50%, you don't even need to net the cash out to get it to a single digit PE
Market cap is £160M
At a run rate of ~£3M per month with operating margins of ~50%, you don't even need to net the cash out to get it to a single digit PE
Not entirely apples to apples but squint and it's close enough to be relevant to #AGFX / #AFX etc.
Santander pays 10x revenues for majority stake in loss making Ebury, a provider of corporate banking services to SMEs that trade internationally:
finextra.com/newsarticle/34…
Santander pays 10x revenues for majority stake in loss making Ebury, a provider of corporate banking services to SMEs that trade internationally:
finextra.com/newsarticle/34…
There are a few odd things in the Argentex #AGFX HY report.
They could be doing more forwards, which have take rates 50-100% than spot but they don't split out the numbers.
Client base overall now paying 23.2bps vs 20.2bps and that makes them.. "improving in quality" does it?
They could be doing more forwards, which have take rates 50-100% than spot but they don't split out the numbers.
Client base overall now paying 23.2bps vs 20.2bps and that makes them.. "improving in quality" does it?
• • •
Missing some Tweet in this thread? You can try to
force a refresh
