Fresh vegetable exporter
- Account management

The situation

The client is a substantial breeder and producer of seed and ware potatoes based in Scotland. Potatoes are grown in season creating busier export quarters than others. The business has a huge customer base in Europe of whom they sell the products too, generating a build-up of Euro denominated income.

The challenge

As the business is UK-based, the Euro revenues generated naturally need to be repatriated back into Sterling to cover operation cost at the farm. Before working with Capitex, the client would exchange their EUR income on a ‘as and when’ basis at the point that revenues were received into their Euro account. The client would allow their banking partner to manage the exchange, meaning the client received compressed GBP amounts because of the banks uncompetitive FX rates.

The solution

Capitex were able to maximise the client’s profitability due to our direct access to competitive pricing, meaning the same volume of EUR incoming would now return significantly larger GBP receipts. Through the use of a dedicated Account Manager the client was also able to put together a plan to strategically time their transaction for when market rates were most favourable, helping to widen profit margins.