Trading Update

RNS Number : 5760Q

Plus500 Limited

07 June 2018

 

7 June 2018 

Plus500 Ltd.

("Plus500" or "the Company")

Trading Update

Plus500, a leading online service provider for trading CFDs internationally, is pleased to announce that its business continues to trade strongly. Accordingly, the Board has materially increased its expectations for the Group's financial performance for the year ending 31 December 2018.

As announced in the Company's preliminary results on 14 February 2018 and the trading update on 1 May 2018, the Company had a strong start to the financial year; mainly due to a period of relative volatility in the markets and high levels of trading in the Company's cryptocurrency CFDs offering.

The Board believes that these factors encouraged high levels of New Customer sign ups and therefore record trading in Q1 2018. While market conditions have returned to more normal levels in Q2 2018, trading has nevertheless been subsequently materially ahead of management expectations.

As previously announced in the 1 May 2018 trading update, the full impact of the ESMA measures, which are now confirmed to take effect from 1 August 2018, are difficult to assess.  Similarly, the Group's performance could also be impacted by the rate at which customers request to be reclassified, and are accepted, as elective professional clients.

The Board will assess the impact of the ESMA measures on current and future years' performance once the ESMA measures are fully operational and will make further announcements as appropriate. 

Asaf Elimelech, Chief Executive Officer, commented: "We are pleased with the continued strong financial performance made despite market conditions returning to more normal levels during this period. We remain confident about the future prospects for the Company."

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.

Enquiries

Plus500
Elad Even-Chen, Chief Financial Officer	[phone] [e-mail]
Liberum - Nomad and Broker
Clayton Bush, Neil Elliot, Josh Hughes, William Hall	[phone]
Berenberg (Joint Broker)
Chris Bowman, Mark Whitmore	[phone]
MHP Communications
Reg Hoare, Tim Rowntree, Kelsey Traynor	[phone]

About Plus500

Plus500 operates an online trading platform for individual customers to trade CFDs internationally over more than 2,200 different underlying global financial instruments comprising equities, indices, commodities, options, ETFs, cryptocurrencies and foreign exchange. Individual customers of Plus500 can trade CFDs in more than 50 countries and in 32 languages. The trading platform is also 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 and Singapore.  Customer care is integral to Plus500: customers cannot be subject to negative balances and there are no commissions on trades. 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 your leveraged exposure and stop losses to help customers protect profits and limit capital losses.

www.plus500.com

 

END

 

 

TSTFQLLBVQFEBBZ