Plus500 ‘ahead of expectations’ in first half

3 July 2017

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.

Related article: Plus500 reveals growth, launches share buy-back programme