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Plus500 Ltd (PLUS)

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Tuesday 28 April, 2020

Plus500 Ltd

Trading Update

RNS Number : 0442L
Plus500 Limited
28 April 2020
 

28 April 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 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 Income 1  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 Performance 2 , which is expected to be neutral over time.

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.

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. 

Customer Income - Revenue from customer spreads and overnight charges

Customer Trading Performance - Gains/losses on customers' trading positions

 

For further details

Plus500 Ltd

Elad Even-Chen, Chief Financial Officer

[email protected]

 

 

Tel: +972-4 8189503

 

MHP Communications

Reg Hoare, Rachel Mann, Pete Lambie

[email protected]

 

 

Tel: 020 3128 8591

 

 

 

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 Kingdom, Australia, Cyprus, Israel, New Zealand, South Africa, Singapore  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 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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