Plus500 reveals record figures for first half

Plus500 has cited continued marketing activity and market volatility as the key drivers behind record financial results during the six months to June 30.

Revenue in the first half came in at $158.8 million (€142.4 million), up 25% on the $127 million posted in the same period last year.

Earnings before interest, tax, depreciation and amortisation increased by 6% to $59.1 million, while net profit was also up 10% year-on-year to $44.5 million.

Elsewhere, Plus500 said net cash for the first six months of the year amounted to $96.2 million, up slightly on the previous year, while earnings per share grew by 11% to $0.39.

Asaf Elimelech, chief executive of Plus500, said: “Plus500 achieved record first half results whilst continuing to grow both its active and new customers.

“This performance was driven by continued marketing activity and market volatility; the UK's Brexit decision boosted customer activity in late Q2 – leading to increased new customer sign ups, customer re-activations, and customer trading levels.

“We have started the second half strongly as these new customers deliver growth in revenues with an associated bounce back in margins.

“We are encouraged by the continuing levels of new and existing customer activity resulting from the market volatility and our own actions as we continue to invest in enhancing the business to deliver future growth.

“Overall our expectations are unchanged – momentum is expected to continue, resulting in strong growth in 2016.”

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