UK corporates lose out as sterling slides, study says

Importing firms see average profit loss of 12% following Brexit vote, finds Western Union

falling-coins-getty
Adverse impact: profits slide and costs rise for UK importers; only a fifth choose to hedge FX exposures

A fifth of UK importing companies have lost 12% of their profits on average since the UK voted to leave the European Union due to the depreciation in sterling, new research from payments company Western Union reveals.

Of the 1,110 companies surveyed, only 22% say they used hedging and risk management strategies to combat the adverse impact of currency movements by deploying forwards and options. Others believe currency fluctuations simply even out over time.

“Importers have taken a real hit in

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.fxweek.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Week account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: