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I agree with you OliG the same thing happened with Halfords they gave cautious commentary and the papers misunderstood it and then they released updated figures that were nowhere near what people were expecting.30% rise followed in one day.
ggplyr, I agree with you wholeheartedly. I don't understand why such a cautious statement. I would have thought it's blindly obvious that the company will exceed full year broker forecasts. All I can think of is that they want to be able to release a trading update early next month stating that they now expect to significantly exceed current forecasts. Overall its odd but it will be what it will be.
When is Q4 update as no dates or 2019s on plus website.
End of year has been late Dec / early Jan last couple of years.
Look at ASOS so similar.
Nobody should take the implied Q4 revenue seriously ... there is no way that it drops to $49m.
Only pertinent factor is whether the PLUS Traders have managed to lose a fortune "trading" ... which dwarfs the gains from spreads and funding the ever growing client base. This is a genuine concern because the have history of being unable to run a flat book - but management should have learnt their lesson on this one and instituted stricter controls on their trading limits
However I welcome the chance to buy back the shares I recently sold at a higher price - 1750p when full year earnings released no problem !
If enough people email in they will have to respond.
> The issue is $261.4m Q3 to $49m Q4 is not a gradual reduction and is completely fabricated bs
Agree Mark this is BS. looks like they are sticking to their guns and not giving anything away by emails. At some point they will have to issue an upgrade in Q4 even if business is conservative they will beat full year guidance. It is annoying I know but not a lot we can do about it.
I got the same response Bristol, I've wrote back and said it explains nothing etc.... keep on emailing, hopefully we can get the provide a further RNS which actually makes some sense.
Unless there is another customer P&L issue they are not splitting out in the numbers?
I thought the Q4 outlook was a typo at 1st. surely it will be a monster quarter with US election volatility and continued uncertainty with covid...
>This gradual reduction from peak levels has continued into Q4 2020
The issue is $261.4m Q3 to $49m Q4 is not a gradual reduction and is completely fabricated bs
Have emailed...also not clear why the huge drop in Q4 but average quarter guidance for FY21 much higher?
Immediately received the below response
Thanks for your email. The market consensus numbers are included in the footnotes of the announcement today
While we are unable to comment further beyond what was disclosed in our results announcement today, I would like to bring your attention to the following commentary within today’s announcement as important context for our guidance commentary for FY 2020:
• Our overall performance in Q3 2020 was achieved with extreme monthly trading movements in the quarter. This is consistent with the level of market volatility experienced during 2020 and particular trading conditions during Q3 2020
• Customer Income during Q3 2020 was second highest quarterly level of Customer Income in our history, although reduced from record peak levels achieved in Q2 2020
• This gradual reduction from peak levels has continued into Q4 2020
I understand what you are saying Olig, but I would rather transparency. Or at least the FD to proof read the RNS to see if it makes sense.
I've had a response from Rob, he has basically just cut and pasted some of the RNS.
I'm sure some of the big boys will have been on the blower already to express their opinions. It's not the first time and it does somewhat erode confidence in the company if they think it will only do some 49M of business in Q4.
The dip in share price just means the company can buy back even more shares on the cheap and our effective shareholding increases. Eventually the market will wake up but it will be a gradual process.
Mark - I'm not a member on ADVFN but I see you there..im watching you lol, please can you see if you can get some people there to email in to Rob Gurner too?
Absolutely no way will Q4 be in line with analysts expectations....minimum $150m Rev (more likely $170m)
Look out for directors buying on the cheap I say...
If some other people could also email in to ask them to confirm how they expect Q4 to be their worst quarter in 5 years please could you do so. I think this is the most misleading trading update I've seen.
Rob Gurner
Head of Investor Relations
M +44 7825 189088
rob.gurner@plus500.com
** Jefferies analysts say PLUSP's expectations imply a
material slowdown in Q4 to revenue of just under $50 mln and
EBITDA of $25 mln, which is highly conservative, particularly
given the context of the U.S. election season
Yes - ridiculous. Such poor wording has trashed the sp, these are stunning results
So. "Full year forecast in line with analysts expectations." I.e 830m.
This means q4 revenue is expected to be 49m. You have to go back to 2015 to get a quarter with such low revenue. I doubt this is true.
Nice little - 5 short and 500 lovely pounds..... lovely jubly :) Follow the trends
amazing results - shame they did not do a special dividend but we can rest assured the dividend at the year end will be impressive
Great Results & perfectly reasonable to introduce a hint of caution referring to what I presume is a small decline, so far this quarter.The volatility in global Markets yesterday provides a clue as to our potential up to 31/12 & beyond & the recent uplift in activity in BTC & cryptos generally should result in further increases in revenue, profitability & cash flow.We have grown organically so far so interesting to reference to targeted acquisitions in territories where we dont currently operate.At what point will the Market recognise that our business model works & increase our rating accordingly?
Board remains very confident about the outlook for Plus500 - FY 2020 Group Revenue and EBITDA expected to be in line with current analysts' consensus forecasts[7]
This will end up in the red today , Mark my words ;).