Who are FS Mackenzie?
FS Mackenzie International Limited is a worldwide freight forwarding company with a history spanning over 70 years. They provide an array of services, supporting companies in various transportation needs, from sea freight to rail freight.
“For more than five years, our partnership with Lumon has been unwavering, and we’ve seen remarkable results. Their customer services surpasses expectations, consistently taking proactive steps to assist us in handling our foreign exchange risk, whether in spot or forward transactions. We regularly verify pricing competitiveness through spot checks, and they have consistently delivered. I wholeheartedly endorse Lumon without any reservations to anyone seeking similar services.”
Edward Crossman, Co-founder
Background
Generating over £25 million in revenues and operating globally, FS Mackenzie International Limited consistently grapples with the complexities of handling ongoing foreign exchange risks. These challenges range from handling income received from international clients to settling payments with local suppliers. Before engaging with Lumon, they conducted FX transactions directly through their banks at uncompetitive rates, receiving minimal customised support in a highly volatile market environment. Furthermore, there were instances where FS Mackenzie International Limited encountered predictable exposures, requiring heightened stability in cash flow, but lacked a structured strategy to manage these foreign exchange risks.
How we helped
Lumon conducted an in-depth analysis of historical pricing, significantly enhancing the exchange rates received by FS Mackenzie International Limited, resulting in substantial annual savings. Additionally, Lumon offered a personalised dealing service, keeping the business informed about market fluctuations and significant risk events, thereby refining the timing of all currency transactions. Lumon provided an unsecured forward line to guarantee FS Mackenzie International Limited’s improved stability in cash flow for foreign-denominated liabilities, empowering them to better budget and forecast their finances.
