Advanced
Markets (UK) Limited, the FCA-regulated subsidiary of the broader Advanced
Markets Group, posted a 52% revenue jump in 2024 but saw profits flatline,
according to unaudited financial statements filed with Companies House.
Advanced Markets UK
Revenue Climbs 52% as Margins Tighten
The UK
subsidiary of the fintech firm reported turnover of £2.75 million
(approximately $3.5 million) for the year ended December 31, 2024, up from
£1.81 million in 2023. Net profit held nearly steady at £152,551, down just
0.6% from the prior year’s £153,470.
The
stagnant profit picture came despite the strong revenue growth, as cost of
sales climbed to £2.55 million from £1.66 million, a 54% increase that outpaced
revenue gains.
However,
tax expense jumped to £51,288 in 2024 from £12,521 in 2023, eating into pre-tax
profit of £203,839. The company generated £6,318 in interest income during the
year, down from £11,669 in 2023.
Diverging Financial
Performance
The 2024
results show a different trajectory from the previous year, when Advanced
Markets UK saw profits drop 69% despite a revenue surge to $2.26 million in 2023. That year marked
a period of adjustment as the company scaled its UK operations.
Advanced
Markets has been building out its UK presence, including hiring Oksana
Remez from Finalto in
December 2024 to oversee global sales strategy and lead business development
efforts. The appointment signaled the company’s intent to expand its UK
footprint even as it trimmed headcount elsewhere in the operation.
The
company’s balance sheet shows total assets of £19.08 million at year-end 2024,
up from £13.21 million in 2023. Cash holdings nearly quadrupled to £3.85
million from £1.06 million, while debtors rose to £15.23 million from £12.15
million. Trade creditors increased to £16.99 million from £11.28 million.
Advanced
Markets UK filed
the accounts under the small companies regime, exempting them from a formal
audit under section 477 of the Companies Act 2006.
This article was written by Damian Chmiel at www.financemagnates.com.
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