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Foreign exchange: how to invest in the hottest of sectors

22/07/2019 · Alpha FX Group PLC (AFX)  · Argentex Group PLC (AGFX)  · Fairfx Group PLC (FFX)  · H&T Group (HAT)  · Ramsdens Holdings PLC (RFX)  · Record (REC) 

AIM Foreign Exchange Travel UK

Foreign currency rates trading

As holidaymakers pack their suitcases, the pitiful value of the UK pound, which has recently fallen to two-year lows against the US dollar and six-month lows against the euro, may be a cause for concern. UK companies trading overseas have been feeling the pressure for a while, meaning effective currency management is of growing importance. The good news, for both businesses and holidaymakers, is that the growth in foreign exchange providers and consultants means that companies and individuals no longer need to get ripped-off by their banks or the airport bureau de change. The good news for investors is that the high demand for good FX services has bred a mini sector on the stock markets which is proving popular. Here we run through the investment cases of some of the UK’s best FX providers.


Company Market Capitalisation Annual Revenue (most recent historic) Annual revenue growth (%) Consensus forecast EPS growth (%) PE (x)
Equals £200m £26.1m 69 58 18.5
Record £64.7m £25.0m 5 -29 14
Alpha FX £282m £23.5m 73 9.9 31
Argentex* £162m £21.9m 65 NA 19
H&T £130m £22.5m 44.2 14 9.7
Ramsdens £53m £46.8m 17 7.1 9.8
*No broker forecasts - valuation based on our forecasts

Equals Group: look beyond the bizarre name…

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