The Canadian company that runs the Nectar loyalty-points program in the United Kingdom says it doesn’t expect the Brexit vote or the weakness of the British pound to have a significant impact on its financial results in the medium term.
But Aimia Inc. says it does expect a period of uncertainty in the near term as a result of Thursday’s vote — which resulted in a defeat for the forces that want the United Kingdom to remain in the European Union.
The Montreal-based company runs the Aeroplan loyalty points program in Canada and similar programs in several other countries, but says the Brexit decision will have the biggest impact on its Nectar program in the United Kingdom.
“Aimia has limited financial exposure in EU countries outside the U.K.,” the company said Friday morning, a few hours after the official results of the vote were released.
The leave side won 52 per cent of the vote, over the objections of British Prime Minister David Cameron — who has announced he will resign.
Aimia says that the negative effect on its cash flow due to a weaker British pound will be countered by lower costs in its U.K. business, which includes global product development work done in London.
The company has 3,200 employees in 17 countries. It partners with banks, retailers and other company to generate, collect and analyze customer data that can be used to make business decisions.
