For any business operating in more than one country or dependent on foreign customers or imports, currency risk is an ever-present threat to profitability.
Adverse currency moves can change the cost of goods and services necessary for the fulfilment of a contract, eroding profitability, and any firm taking revenues in foreign currency has to consider the exchange rate when repatriating that income to sterling.
Given all these factors, it is no surprise that a number of companies this year have had to restate their earnings forecasts, specifically because of currency risk. Thankfully, hedging offers a way to offset these risks.
As we approach Brexit, Tony Bescoby, currency risk management expert at Investec will be joined by Victoria Clarke, one of Investec’s most senior economists to:
1. Run through the big economic challenges facing the UK manufacturing sector
2. What impact they could have on manufacturers’ day to day operations and bottom lines
3. How manufacturing firms can protect against them.
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