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#1 07-08-2017 21:42:23

Admin & Trader
From: Paris - France
Registered: 21-12-2009
Posts: 2831

Plus500: record revenue of $110 million

Plus500: record revenue of $110 million

CFD Service. 80.6% lose money

CFD broker Plus500 published its 2017 first semester results for the six-month period ending 30 June 2017. Q2 revenues exceeded $100 million for the first time, reaching a whopping $110.9 million: 21% better than the previous best quarter (Q4-2016).

The second largest Israeli CFD broker significantly improved its net profits with a profit of $90.7 million in the first half of 2017.

It is not surprising that Plus500 shares reacted favourably to the news, selling (at the time of writing) up 19% to 784 pence per share, the highest share price of Plus500 since last December (when the new FCA rules to limit the use of leverage on CFDs were announced).

Highlights of the first half of 2017:

Net income: $90.7 million, +104%
Revenue: $188.4 million + 19%
Number of active clients: 112,317, +8%
Number of new clients: 31,671, +43%
Average revenue per user: $1,678, +10%
Average acquisition cost per user: $836, -37%

These positive outlooks are occurring despite the new regulations on contracts for difference. Last month, the European Securities and Markets Authority (ESMA) announced plans to limit leverage in 2018 and added that this would limit the marketing of CFDs.

On 4 August 2017, Plus500 declared an interim dividend of $27.21 million ($0.2387 per share) based on the number of shares issued on 4 August 2017 and a share repurchase programme worth $27.21 million.

"Anything worth having is worth going for - all the way." - J.R. Ewing



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