Admiral Markets UK reports 2024 loss amid strategic restructuring and client migration
Admiral Markets UK posts 2024 loss
Broker Admiral Markets UK Limited, the UK division of Admirals, reported a net loss of £530,669 for the financial year ended 31 December 2024. This marks a sharp reversal from the profit of £46,316 recorded in 2023.
According to the company’s report, the primary reasons behind the loss were restructuring costs, a shift in the geographic focus of the client base, and overall macroeconomic instability.
Revenue and expenses
Revenue at Admirals’ UK division totaled £7.53 million, down from £8.43 million a year earlier. Despite a significant drop in the cost of sales from £122,349 to £10,680, administrative expenses remained high at £7.92 million, showing only a slight decrease from £8.44 million in 2023. As a result, the operating loss amounted to £397,428, compared to £136,676 the previous year.
Interest income rose to £177,091, but interest expenses increased to £259,683, further pressuring the bottom line. After a tax charge of £50,649, the group’s total comprehensive loss amounted to £502,633, including a positive foreign exchange gain of £28,036.
Financial position
Despite the annual loss, Admiral Markets UK maintained a solid financial foundation. Net assets stood at £8.47 million, only slightly below £8.97 million at the end of 2023. The group held £13.31 million in cash and £5.21 million in receivables, with £10.3 million in current liabilities due within a year. Fixed assets, including tangible and intangible resources, were valued at £322,815.
The share capital remained unchanged at £8 million, and retained earnings totaled £425,047 by year-end, highlighting a stable capital base despite ongoing operating losses.
Strategic challenges and regulatory compliance
Over the year, the company adjusted its client strategy due to EU marketing restrictions. Admiral Markets UK began transferring EU-based clients to its European affiliate, Admiral Markets AS, leading to a drop in trading volumes among UK-resident clients. By year-end, the company had only one overseas office — in Lithuania.
Admiral Markets UK continues to operate on a matched principal model, where all client trades are hedged through Admiral Markets AS. This structure helps mitigate market risks, while credit and cash flow risks are managed through strict oversight of client deposits and intercompany settlements.
Outlook
Despite significant operational and financial challenges in 2024, the company reaffirmed its commitment to regulatory compliance, stakeholder engagement, and long-term strategic development. Admiral Markets UK leadership emphasized continued efforts to optimize the business model, boost operational efficiency, and refine client acquisition strategies in response to evolving regulations and market trends.
Previously, Admirals launched a welcome bonus program aimed at doubling new traders’ deposits.
