ActivTrades' UK-regulated entity no longer owns two of the group's overseas units. According to the company's accounts for the year ended 31 December 2025, the group carried out a restructuring exercise to streamline its operations, under which the Bahamas unit and the Portuguese entity, which also runs branches in Sofia and Milan, were pulled out of the UK entity's group and made direct subsidiaries of a separate Guernsey-based holding company instead.Redrawing of the Group StructureThe Bahamas division left the UK entity's group on 2 January 2025. The Portuguese unit followed on 11 August 2025. Both are now owned directly by the Guernsey parent, which also sits above the UK entity itself. In practical terms, the UK entity has gone from being the parent of these two divisions to being their sibling under a common holding company.What remains directly under the UK entity is a narrower set of subsidiaries: a Brazilian holding company and its regulated unit, a UK vehicle used to securitise loans as collateral for external bank funding, and the entity that previously served the group's European clients from Luxembourg, which is in the process of being wound up.Read more: More Than Jersey - What IG Group’s Offshore Move Really MeansRestructuring Muddies the Read on Falling Overseas RevenueThe timing of the Portuguese division's departure sits awkwardly alongside the year's headline numbers. Revenue for the UK unit from clients outside the UK fell to £6.1 million in 2025, down from £11.8 million in 2024, a drop of nearly 48 percent. Because the Portuguese unit was only consolidated into the group's accounts for the first seven and a half months of the year rather than the full twelve, at least part of that fall in reported overseas revenue reflects the change in group structure rather than a genuine decline in client trading. The accounts do not break out how much of the Portuguese business's revenue was excluded as a result of the deconsolidation.UK revenue moved the other way, rising to £27 million from £25.8 million, meaning the UK now accounts for roughly 82 percent of group turnover, up from about 69 percent in 2024. Part of that shift reflects the removal of two overseas units from the consolidated numbers rather than the UK business necessarily growing its share organically.Group turnover overall fell to £33.1 million from £37.6 million, and profit before tax nearly halved to £2.3 million from £4.6 million. Profit after tax dropped to £1.8 million from £4.1 million. Administrative expenses, excluding foreign exchange revaluations, rose to £32.8 million from £31.2 million.Client-facing metrics moved in the opposite direction to revenue. The group identified 211,828 new potential clients during the year, of which 18,016 opened funded accounts, a 10 percent rise on 2024. Net deposits rose 202 percent to £52.1 million, and average monthly trading volume rose 11 percent to the equivalent of $45.5 billion in notional value. Average group headcount for the year was 273, up from 260 in 2024. This article was written by Arnab Shome at www.financemagnates.com.

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