APM Capital Markets Limited, formerly BUX Financial
Services, posted a post-tax loss of £3.0 million for the 15-month period ending
31 March 2025. This is slightly higher than the £2.9 million loss recorded in
the previous 12 months. The company attributes the decline to a strategic pause
and corporate restructuring following its sale in the second quarter of 2024.
Net Trading Profit Collapses Amid Restructuring
Audited statements show net trading profit fell from £843k
in 2023 to just £37k, while administrative expenses remained significant at
£2.36 million. Other operating income, previously boosted by £1.85 million in
intercompany fees, dropped to zero.
The strategic report notes: “The key reason for this
are due to a reduction in the client base and halt in trading operations as a
result of the sale process.” The report adds that 2024’s strategy was
“not to grow the business” but to position it for sale and relaunch.
Earlier this year, the
firm appointed Joshua Owen as CEO following UAE-based APM Capital’s
acquisition of BUX’s UK unit. Owen, now also an Executive Director on APM
Capital Markets’ board, replaced Salim Sebbata, who joined Capital.com.
Net Assets Rise Amid Cash Decline
Net assets rose slightly to £1.536 million, supported by
£3.115 million raised through share issuance. Cash and cash equivalents fell
from £6.28 million to £2.75 million, reflecting a £6.6 million net cash outflow
from operations and reductions in creditor balances.
The company is preparing a rebrand and a dual-market
strategy targeting retail and corporate clients. Retail offerings will focus on
digital access, educational tools, and platform usability, while corporate
services will include bespoke trading solutions.
Technology Upgrades, Rebrand Planned Ahead
APM highlighted its risk management and regulatory
compliance. The firm operates under the FCA, follows the Investment Firms
Prudential Regime, and maintains an Internal Capital Adequacy and Risk
Assessment process.
Looking ahead, the firm plans technology upgrades, a global
rebrand, strengthened compliance measures, and the introduction of
exchange-traded derivatives.
APM stated: “While revenue performance over the period
has been impacted by this transitional activity. These short-term financial
results are in line with expectations and reflect deliberate investment into
repositioning.”
This article was written by Tareq Sikder at www.financemagnates.com.
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