APM Capital Markets, formerly known as BUX Financial Services, reported a decrease in revenue and profit in its 2023 fiscal year, as the company prepared for acquisition by Asseta Holding Limited, an Abu Dhabi-based firm. The acquisition has led APM to transition its customers off its current trading platform in anticipation of the sale.
In the fiscal year ending 2023, APM’s revenue dropped to £843,938 from £1,523,424 in 2022, while losses increased to £2,993,957, up from £2,259,242 the previous year. The company attributed the decline to a shift in strategy focused on maintaining core operations and regulatory compliance over business growth, which also affected its client base.
Cost-Cutting Measures
As part of cost-saving efforts, APM has actively reduced its UK client base and migrated all customers off the existing trading platform to pause trading activities before the acquisition. Cost of sales increased to £3,085,522 from £2,239,965, while operating losses grew from £2,363,137 to £2,994,215. Despite these figures, the company maintains a positive financial outlook, though net assets fell from £3,227,704 to £1,433,747, along with a corresponding drop in total equity.
Acquisition and Rebranding
On May 17, 2024, APM Capital entered a share sale and purchase agreement with Asseta Holding Limited, with the acquisition receiving approval from the FCA and officially completing in July 2024. Following the acquisition, the company rebranded as APM Capital Markets Limited.
APM is now poised for growth under the support of Asseta, which plans to introduce a new trading platform and expand the company’s UK customer base under the APM Markets brand. According to company directors, APM Capital Markets remains financially viable, supported by a cash infusion from Asseta Holding Limited, which ensures its ongoing operations and strategic direction.
