CPT Markets UK Posts Heavy 2024 Loss, Plans Institutional Pivot

CPT Markets UK has reported a steep decline in 2024 revenue, with turnover falling 70% to £351,378 from £1.15 million the year before. The company ended the year with a loss after tax of £874,276, a sharp widening from the £23,489 loss posted in 2023.

Administrative expenses ticked higher, reaching £1.19 million compared with £1.11 million in 2023. The result drove the firm's return on assets down to -111%, a dramatic reversal from -2.5% a year earlier. Net assets dropped to £788,826, down 18% year-on-year.

In its Companies House filing, CPT described 2024 as "a very difficult year." The downturn was tied to two factors: heavy reliance on a handful of clients, and long delays in securing a liquidity provider for new business. At the same time, two of its largest clients temporarily paused trading, further depressing revenue.

Management has since moved to address the issues. Both large clients have returned to active trading, and new sales hires brought on last year have begun converting leads now that liquidity access has improved. More recruitment is planned when market conditions allow.

A reshuffle of the management team has also been carried out. Mike Greenhalgh, who joined the firm in 2022, will take over as CEO, subject to approval, replacing longtime chief Nick Lewis. Under Greenhalgh, CPT plans to pivot toward institutional business, particularly small to mid-sized funds and proprietary traders.

The firm will also raise the minimum investment size for retail clients and expand into B2B liquidity provision to other brokers. Longer-term goals include building out a broader product suite, with potential additions such as equities, fixed income instruments, futures, and options.