CFD broker Plus500 Ltd (LON:PLUS) issued its customary end-of-quarter Trading Update today, indicating that both Revenues and Profits are on track to be ahead of expectations.
Plus500 did not give any specific numbers or targets.
Plus500 reported a “monster” quarter in Q2, as the company has grown to become the #2 UK CFD broker behind only IG Group Holdings plc (LON:IGG). Revenues for Q2 at Plus500 came in at $110.9 million – the company’s first ever $100M+ quarter. Profits for the first half of the year at Plus500 were $90.7 million, another best for the company.
The text of the Trading Update follows:
27 September 2017
Plus500 Ltd.
(“Plus500” or “the Company”)
Trading Update
Plus500, a leading online service provider for retail customers to trade CFDs internationally, is pleased to announce that its business continues to trade strongly. Accordingly, the Board anticipates that revenues and profits for the year ending 31 December 2017 will be ahead of market expectations.
Further details will be announced in the Company’s scheduled third quarter trading update which will be issued on 31 October 2017.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (“MAR”). Upon the publication of this announcement via Regulatory Information Service (“RIS”), this inside information is now considered to be in the public domain.