Recently acquired TradeFX (Markets Limited) generated revenues of $48.2 million in the first half of 2015, up 60% from the equivalent period a year earlier.
Playtech reports robust H1 2015 results for its financial division
Amid the important developments that the retail Forex industry has so far seen this year, we can definitely mention the expansion of Teddy Sagi’s Playtech PLC (LON:PTEC) in the online trading space via the completed acquisition of TradeFX (now known as Markets Limited), and the proposed acquisitions of Plus500 Ltd (LON:PLUS) and AvaTrade.
Earlier today Playtech reported its financial metrics for the first half of 2015, with the data shedding light on the performance of the newly established Financial division of the group. And although the deals with Plus500 and AvaTrade have yet to be completed and their results to have an impact on the overall performance of Playtech, today’s data reveals the stats for TradeFX (Markets Limited).
Playtech completed the acquisition of Markets Limited on May 7, 2015 and accordingly has consolidated the financial performance in May and June into Group results.
- During the full six months to June 30, 2015, Markets Limited generated revenues of $48.2 million, up 60% from the equivalent period in 2014.
- The strong growth in revenues was achieved despite revenues being 5% lower in May and June, against a year earlier, due to weak market volatility.
- Markets Limited KPIs were strong in the half with the number of active CFD customers up 34% and first time depositors up 39%.
Playtech agreed to pay €208 million in cash plus payments totaling up to €250 million, based on future performance, to acquire a stake of 91.1% in TradeFX Limited in April 2015. TradeFX is a holding company whose key business is Safecap Investments Limited, which operates several online trading brands, including Markets.com, TopOption, ForexYard, Finexo, Trade.com, OnlyOption, 24winner, and FireOptions. Markets Limited currently operates under its principal B2C brand, markets.com.
To view the full Playtech report, click here.
David Hobart
David Hobart is Managing Director of FinAffiliates Limited, the UK media group behind LeapRate, AskTraders and a network of more than 30 financial and trading titles published across several languages and regulated markets. He writes on the commercial side of the industry: broker marketing, client acquisition, affiliate strategy and the editorial standards that hold it together. He is based in North Norfolk.
