Plus500 announces over 281% YoY increase in H1 revenue and new share buyback

Steffy Bogdanova
August 11, 2020 3:44 pm

CFD trading platform Plus500 announced its interim results for the first half of the financial year 2020 with significant growth. The company also launched a new share buyback program that will run until 28 February 2021.

In the heightened volatility and unprecedented market conditions, the Israel-based broker reported a really high performance for the first half ended on 30 June. Plus500 reported $564.2 million in revenue, a whopping 281.2% growth compared to 148.0 for the first half of last year.

EBITA also registered a significant increase of 451.5% YoY to $361.8 million. Earnings per share was up 562% to $2.98.

The customer income also reached record levels at $556.9 million, up 218% YoY. More than 47 million customer trades were made for the first half of the year, up by 168.6% compared to $467.1 million made last year.

Plus500

Plus500 also announced that its board of directors approved new buyback programme to additional $67.3 million of Plus500’s shares. The previous buyback program announced in February this year ended with the broker having purchased $38.9 million of its shares.

The purchases of share will take place in an open market transaction and market conditions, share price, trading volume and other factors will be taken into consideration. Credit Suisse Securities (Europe) Limited (“CS”) is appointed to manage the programme on the company’s behalf. Plus500 and its directors cannot invoke changes to the programme.

The buyback programme will run until 28 August 2021 or until the announcement of the for the end of the financial year.

LeapRate Analyst

Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
Tags:

Read Also: