Earlier, sterling reached a two-week high against the euro at €1.10, and steadily claimbed back lost ground against the US dollar at $1.46.
“Currency is one of the big challenges,” Evans says. “We sell a lot of our products in dollars but the majority of our purchases are made with euros. We have some natural hedging and a couple of long-term pricing contracts. We have to make sure it’s not too costly for our airline customers but we have to cover ourselves as well.”
Evans says the company, which makes aircraft floorpath marking systemsis and is forecasting turnover of £6m this year, is “relatively lucky”: its cash flow means “at any one time, we aren’t too desperate to sell so we can take advantage of the best rates that are around”.
While Evans is in charge of currency on a day-to-day basis, the board also gets involved in the big decisions regarding foreoign exchange strategy.
“It’s very hands on,” she says. “We don’t say at the beginning of the year ‘we want a forward contact at £4m and this is the rate we’re on’ and that’s it.”
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