ActivTrades PLC, the UK-based online trading broker, reported revenue of £27.5 million for the year ended Dec. 31, 2023, a 45% decline from £50.2 million in the prior year, according to its annual accounts filed with Companies House.
The company swung to an operating loss of £9.3 million compared with an operating profit of £18.8 million in 2022. Loss before tax was £7.0 million, reversing a profit before tax of £19.3 million the previous year. After tax, the group recorded a loss of £5.8 million versus a profit of £16.3 million in 2022.
Trading gains and losses, which comprise the bulk of revenue, fell to £26.2 million from £46.6 million. Interest income declined to £1.4 million from £3.3 million.
Administrative expenses rose 17% to £33.6 million from £28.6 million as the company continued expanding operations into new markets including Brazil and Portugal. Direct cost of sales decreased 30% to £2.8 million from £4.0 million.
Client money held at year end totaled £48.7 million, down from £89.8 million in 2022. The group’s shareholder funds fell to £40.2 million from £57.0 million following dividends of £11 million paid during the year.
Average group headcount increased to 272 employees from 243 in 2022. The company operates subsidiaries in the Bahamas, Luxembourg, Brazil, and Portugal alongside its UK parent and Bulgaria-based IT branch.
