The Retail FX and CFD broker Vantage Global Prime LLP has
released its financial results for the year ending June 30, 2024. The results
show a decline in profits compared to the previous year.

Vantage UK Reports Profit Decline

Turnover for Vantage UK decreased from £2.02 million in 2023
to £1.91 million in 2024. The cost of sales increased slightly, rising from
£116K in 2023 to £133K in 2024. Consequently, gross profit fell to £1.77
million, down from £1.91 million the previous year.

In terms of administrative expenses, Vantage UK managed to
reduce costs from £1.71 million in 2023 to £1.7 million in 2024. Despite these
cost-cutting measures, operating profit significantly dropped to £76K in 2024,
a decline from £197K in 2023.

Additionally, there were no interest expenses or income
reported for 2024, contrasting with minor entries in 2023. Profit before
members’ remuneration and discretionary division also decreased to £76K in
2024, down from £197K in the previous year.