AGM Trading Update

RNS Number : 0843Z

Plus500 Limited

16 September 2020

 

16 September 2020

Plus500 Ltd.

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

AGM Trading Update

Plus500, a leading technology platform for trading Contracts for Difference ("CFDs") internationally, issues the following trading update ahead of today's AGM, which is taking place at 10.00am BST. 

The operational momentum achieved during H1 2020 has continued into the second half to date, with Plus500 making excellent progress across all key commercial and financial performance metrics. This performance has been primarily driven by the strength and differentiation of the Company's proprietary technology.

Revenue, in particular Customer Income, has remained strong in H2 2020 to date, supported by further growth in the Company's Active Customer base. The Company has also on-boarded a high level of new customers so far in the second half, driven by continued investment in its marketing technology, rapid response to market events and attractiveness of the Group's market-leading mobile and tablet offering.

These factors have ensured that platform usage remains at elevated levels and customer deposits continue to be very robust.

Plus500 remains well placed to deliver sustainable future growth, given its proprietary technology, its flexible and scalable business model, its strong financial position and a track record of delivery against key performance metrics.

While market conditions remain uncertain, macroeconomic and sector-specific newsflow continue to provide significant trading opportunities for customers. Therefore, the Board remains very confident about the outlook for Plus500, particularly given the Company's outstanding performance so far this year.

The Company will publish its results for Q3 2020, for the period ended 30 September 2020, on 27 October 2020.

For further details Plus500 Ltd Elad Even-Chen, Chief Financial Officer Rob Gurner, Head of Investor Relations [phone] [phone] [e-mail] MHP Communications Reg Hoare, Rachel Mann, Pete Lambie [phone] [e-mail]

About Plus500

Plus500 operates a proprietary technology platform for individual customers to trade CFDs internationally. The Group offers more than 2,500 different underlying global financial instruments, comprising equities, indices, commodities, options, ETFs, foreign exchange and cryptocurrencies. 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, 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 and has always been integral to Plus500, as such, customers cannot be subject to negative balances. 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, while limiting capital losses. Plus500 does not utilise cold calling techniques and does not offer binary options.  Plus500 shares have a premium listing on the Main Market of the London Stock Exchange (symbol: PLUS) and are a constituent of the FTSE 250 index. www.plus500.com

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.

 

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