Plus500 ‘ahead of expectations’ in first half
Asaf Elimelech, chief executive of Plus500, has said that the company had a “very successful” first half of 2017 and is currently operating “significantly” ahead of expectations.
Speaking in a trading update, which has been issued following a second-quarter results announcement last month, the company said business has continued to trade “very strongly” since the June posting.
Last month, Plus500 said that despite a 9% year-on-year drop in revenue during the first quarter, the company was performing better in Q2 and profit margins were maintained.
As a result, Plus500 said it now anticipates revenue and profit for the full year will be significantly ahead of current market expectations.
Elimelech added: “We have had a very successful half year, significantly ahead of our expectations; this puts us in a strong position for the remainder of the year.
“We are confident that our flexible business model will enable us to adapt to the upcoming regulatory changes and gives us a competitive advantage that will enable us to deliver another excellent performance this year.”
Plus500 intends to announce its full results for the first half of 2017 on August 7.
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