Plus500 Limited (LON:PLUS), a leading online service provider for trading Contracts for Difference internationally, today provided an update as a result of the ongoing period of heightened volumes of trading across global financial markets.
Following the Trading Update issued on 28 February 2020, the Company has continued to see a significantly increased level of customer trading activity alongside strong momentum across all financial and operational KPIs. Revenue from Customer Income1 has been very strong due to the heightened levels of market volatility. The Company has also experienced gains from Customer Trading Performance2 which is expected to be neutral over time.
We are at an early stage of the financial year and given the uncertainty regarding the duration of current levels of volatility or the unquantified potential impact from regulatory changes in Australia, it remains difficult to predict the outcome for the full year at this stage.
Notwithstanding this, we expect revenue and profitability for the full year to be substantially ahead of current consensus expectations.
Plus500 Limited will issue further announcements as appropriate, with its first quarter trading update scheduled to be issued on 7 April.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation. Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain.
1 Customer Income – Revenue from customer spreads and overnight charges
2 Customer Trading Performance – Gains/losses on customers’ trading positions