Argentex Group PLC shares jumped on Monday, as it said its interim revenue is set to surge 75% on the back of the historically low pound.

Shares in the foreign exchange provider were up 13% to 101.88 pence each in London on Monday around midday.

In the six months to September 30, Argentex expects to report revenue of £27.4 million, up 75% from £15.7 million in the same period last year.

Client demand in the period has also grown with the number of corporate clients trading increasing to 1,393 from 1,241 year-on-year.

Argentex explained that growth has been driven by its ‘disciplined’ approach to costs, which have remained in line with management expectations during the period.

It added that this performance has also been supported by more favourable market dynamics, with the recent historic lows in sterling presenting ‘exceptional’ short-term trading conditions.

Looking ahead, Argentex said it is ‘confident’ that it will exceed market expectations for the period ending December 31.

Argentex expects to report its interim results for the six months ended September 30 on November 8.

The company has changed to a December 31 year end for this year and will therefore report results for the 6 months to September 30 and 9 months to December 31.

Chief Executive Harry Adams said: ‘The board is confident in the group’s ability to exceed current market expectations and to continue generating positive outcomes for clients, employees and shareholders. While current market dynamics, specifically the historic lows in sterling, present exceptional short-term trading conditions, our long-term growth strategy and outlook remain unchanged.’

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