The online forex and CFD broker Plus500 Ltd has published its trading report on Monday, showing the results for the first quarter of the year 2016. Revenues of the brokers showed an increase on quarter-on-quarter, as well as on annual basis
What was the most impressive results, was the quarterly revenues statistics, reaching a record level of $85.2 million, what is an increase of 26% from the previous quarter and hike of 4% from the first quarter of 2015.
Another important fact to mention is the change in customers, mostly in the UK market, which saw in increase of new clients during the month of January 2016. Albeit the decrease of Plus500 reached 12% on an annual basis during the first three months of 2016, broker experienced an increase of 85% in comparison with the Q4 2015.
From the data, a significant number came from the quarterly revenues, which reached $85.2 million, while active customers rose to 68,000, what helped Plus500 to reach its market share growth continuously in its major markets. All of this could be achieved due to volatile market conditions, helping the traders to be more active, mostly during the first two months.
As for the outlook, the Board remains consistent with its guidance, expecting the Company to reach a higher EBITDA margin than in the previous year. It also confirmes its base 60% pay-out ratio dividend policy and retains flexibility to pay special dividends or buy back shares when the company generates surplus cash, as appropriate.
Asaf Elimelech, the new Chief Executive of Plus500, commented:
“We are very pleased with our first quarter performance which is significantly ahead of the last quarter of 2015, and compares favourably against a very strong first quarter last year. We continue to benefit from volatile market conditions which are stimulating new customer additions and trading activity.”
“As we noted in February at the time of the 2015 results, we have more high value customers, an enhanced trading platform, more robust processes, a stronger brand and more routes to market, supported by a strong balance sheet. We are therefore confident that Plus500 will continue growing and believe we will have another successful year.”
To see the full statement of Plus500, click here please.
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