Plus500 Predicts Annual Results Surpassing Market Expectations
Online trading platform Plus500 has forecasted its annual results to exceed market expectations, buoyed by a 13% increase in new customers during the first half of the year. The company is projected to generate annual revenue of $697.8 million and a core profit of $314.6 million, according to a company-compiled consensus. Plus500 operates a trading platform for financial products across 60 markets, including the UK, Europe, and Asia.
In response to its strong performance, Plus500 plans to return $185.5 million to shareholders, which includes a share buyback plan of $110 million and dividends amounting to $75.5 million. The company attributes its growth to positive operational outcomes and strategic expansion in key markets. Plus500's customer base spans over 27 million globally, and the company continues to leverage its proprietary technology to capitalize on future market opportunities.
