Foreign exchange provider OFX Group crowed about record transactions volumes after the shock vote by Britain to leave the European Union, but the enduring effect of Brexit has been depressed transaction values, which has hammered its half-year profit.

At first OFX, formerly known as OzForex, benefited from keen currency traders and savvy savers trying to capitalise on the plunging pound, but chief executive Richard Kimber said the devaluation of the currency to multi-decade lows has sapped activity in key consumer segments, such Britons buying houses in France or Spain.