International Personal Finance plc has previously hedged the exchange rates at which the majority of its currency profits are translated into Sterling within each financial year and it currently has such hedges in place through to December 2012.
International Personal Finance plc today announces that it has changed its policy on exchange rate hedging and will no longer hedge the rates at which it translates its currency profits into Sterling. This change reflects the fact that underlying currency cash flows are the main driver of shareholder value and the fact that currency hedges as currently executed do not protect the business against long-term exchange rate movements. The change in policy is expected to reduce the overall treasury costs of the business.
For further information contact:
Nick Jones on +44 (0) 113 285 6815
