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Plus500 Sees Further Growth In Customer Base Amid Market Volatility

Wed, 16th Sep 2020 08:23

(Alliance News) - Plus500 Ltd on Wednesday said it is confident in its outlook after an "outstanding performance" so far this year.

The operational momentum achieved during the first half has continued into the second half to date, the contracts for difference technology platform said. Revenue, in particular Customer Income, has remained strong in the second half thus far, while a "high level of new customers" have been onboarded.

"While market conditions remain uncertain, macroeconomic and sector-specific newsflow continue to provide significant trading opportunities for customers. Therefore, the board remains very confident about the outlook for Plus500, particularly given the company's outstanding performance so far this year," said Plus500 in its annual general meeting statement.

The FTSE 250-listed company added that it is well placed to deliver a sustainable growth in future years due to its technology, flexible and scalable business model, strong financial position and a track record of delivery against key performance metrics.

The company is slated to release its results for third-quarter ending September 30 on October 27.

Shares in Plus500 were down 1.9% at 1,471.83 pence each in London on Wednesday morning.

By Tapan Panchal; tapanpanchal@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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