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Plus500 Ltd

Plus500 Ltd - Trading Update

RNS Number : 1857G
Plus500 Limited
16 March 2020
 

16 March 2020

Plus500 Ltd.

("Plus500", "the Company" or "the Group")

 

Trading Update

 

Plus500, a leading online service provider for trading Contracts for Difference ("CFDs") internationally, today issues 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.

 

The Company 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 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), 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

 

For further details:

 

Plus500 Ltd

Elad Even-Chen, Chief Financial Officer

ir@Plus500.com

  Tel: +972-4 8189503

 

MHP Communications

Reg Hoare, Rachel Mann, Pete Lambie

plus500@mhpc.com

 

 

Tel: 020 3128 8570

Forward looking statements

 

This announcement contains statements that are or may be forward-looking statements.  All statements other than statements of historical facts included in this announcement may be forward-looking statements, including statements that relate to the Company's future prospects, developments and strategies.

 

The Company does not accept any responsibility for the accuracy or completeness of any information reported by the press or other media, nor the fairness or appropriateness of any forecasts, views or opinions express by the press or other media regarding the Group. The Company makes no representation as to the appropriateness, accuracy, completeness or reliability of any such information or publication.

 

Forward-looking statements are identified by their use of terms and phrases such as "believe", "targets", "expects", "aim", "anticipate", "projects", "would", "could", "envisage", "estimate", "intend", "may", "plan", "will" or the negative of those, variations or comparable expressions, including references to assumptions.  The forward looking statements in this announcement are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results, performance and achievements to differ materially from any results, performance or achievements expressed or implied by such forward-looking statements.  Factors that may cause actual results to differ materially from those expressed or implied by such forward looking statements include, but are not limited to, those described in the risk factors.  These forward-looking statements are based on numerous assumptions regarding the present and future business strategies of such entity and the environment in which each will operate in the future.  All subsequent oral or written forward-looking statements attributed to the Company or any persons acting on its behalf are expressly qualified in their entirety by the cautionary statement above.

 

Each forward-looking statement speaks only as at the date of this announcement.  Except as required by law, regulatory requirement, the Listing Rules and the Disclosure Guidance and Transparency Rules, neither the Company nor any other party intends to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

 

About Plus500

 

Plus500 operates an online trading platform for individual customers to trade CFDs internationally. The Group offers more than 2,800 different underlying global financial instruments, comprising equities, indices, commodities, options, ETFs, foreign exchange and cryptocurrencies. Individual customers of Plus500 can trade CFDs in more than 50 countries and in 32 languages. The trading platform is accessible from multiple operating systems (Windows, smartphones (iOS, Android and Windows Phone), tablets (iOS, Android and Surface) and web browsers). Plus500 retains operating licences and is regulated in the  United KingdomAustraliaCyprusIsraelNew ZealandSouth AfricaSingapore  and the  Seychelles . Customer care is integral to Plus500: customers cannot be subject to negative balances. Plus500 does not utilise cold calling techniques and does not offer binary options. A free demo account is available on an unlimited basis for platform users, and sophisticated risk management tools are provided free of charge to manage leveraged exposure, and stop losses to help customers protect profits and limit capital losses. Plus500 is listed on the main market of the London Stock Exchange, under the symbol PLUS. www.plus500.com 

 

 

 

 

 


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