Plus500 Continues Strong Performance
Ahead of its annual general meeting today, Plus500 has published a trading update, revealing its strong performance. This was the performance achieved by the broker to date in H2 2020. Its first six months of the year has continued in the second half.
Plus500 outlined on Wednesday that operational momentum has continued into H2 2020, allowing the broker to make ‘excellent progress. And this is across all of its key commercial and financial performance metrics.
To date, revenue, and more specifically customer income, has remained strong in the second half of this year. Furthermore, this gained support by an increase in the broker’s active customer base.
The broker has on boarded a high level of new customers in the second half, according to the trading update. The London-listed broker attributes this to investments made in its marketing technology, as well as its mobile and tablet offering.
Plus500 said, it remains well-placed to deliver sustainable future growth. Given its proprietary technology, flexible and scalable business model, strong financial position and a track record of delivery against key performance metrics.
The Israel based broker does highlight that market conditions remain uncertain. But the company’s Board remains confident in its outlook for Plus500. This is especially with the performance it achieved so far this year.
Share Buyback Continues
Plus500 also revealed that it repurchased 33,500 of its own ordinary shares on 15th September 2020. This was in addition to its trading update.
The volume weighted average price paid per share was £14.87. This means the broker spent around £498,268.95 for the latest batch of shares.
The lowest price paid per share by the broker on Tuesday was about £14.68. The highest price paid per share by the firm was £15.00.
Each of the ordinary shares was purchased through Credit Suisse Securities (Europe) Limited.
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