Plus500 Ltd (LON:PLUS), a leading online service provider for trading Contracts for Difference (“CFDs”) internationally, today issued an update as a result of the ongoing period of heightened volatility of trading across global financial markets.
Following the Q1 Trading Update issued on 7 April 2020, heightened levels of market volatility have persisted, and the Company has continued to see a significantly increased level of customer trading activity. Performance across all financial and operational KPIs remains very strong, with the Group continuing to attract significant numbers of new customers at an attractive cost, and increased levels of activity from existing customers. Revenue from Customer Income1 in the first half to date remains at record levels, with the Group’s financial performance during the second quarter continuing to show further momentum following an exceptional first quarter. The Company has also continued to experience strong gains from Customer Trading Performance2, which is expected to be neutral over time.
Plus500 Ltd state that notwithstanding the uncertainty regarding the duration of current levels of volatility or the unquantified potential impact from regulatory changes in Australia, revenue and profitability for the full year is expected to be substantially ahead of current consensus expectations, as revised following the Q1 trading update on 7 April.
1 Customer Income – Revenue from customer spreads and overnight charges
2 Customer Trading Performance – Gains/losses on customers’ trading positions
