A note about the current issues with £ sterling:
As a business, MI has been proud to hold/fix pricing up to 13 years for customers. This is unheard of in our industry and a statistic we are immensely proud of, indicating our commitment to our customers and something we know for certain, our competitors will not offer customers.
Currently, all our costs are proving hugely difficult to hold due to the move of GBP against the US dollar (which is what a lot of our stock is bought in) from a 12 month high of $1.57 to a low of $1.29 on 18th July. This is making huge issues to our cost base virtually overnight. We are reviewing this on a daily basis and we will certainly be looking at taking costs out of our business elsewhere, so as not to affect any customer, but just need to make you aware of the uncertainties and difficulties the referendum result is causing on incoming costs to the UK at present.
A further note will be published as we see changes happening with the £.
Alex Ingham – Managing Director.
A note about the current issues with £ sterling:
As a business, MI has been proud to hold/fix pricing up to 13 years for customers. This is unheard of in our industry and a statistic we are immensely proud of, indicating our commitment to our customers and something we know for certain, our competitors will not offer customers.
Currently, all our costs are proving hugely difficult to hold due to the move of GBP against the US dollar (which is what a lot of our stock is bought in) from a 12 month high of $1.57 to a low of $1.29 on 18th July. This is making huge issues to our cost base virtually overnight. We are reviewing this on a daily basis and we will certainly be looking at taking costs out of our business elsewhere, so as not to affect any customer, but just need to make you aware of the uncertainties and difficulties the referendum result is causing on incoming costs to the UK at present.
A further note will be published as we see changes happening with the £.
Alex Ingham – Managing Director.