Plus500 has cited the impact of new customers, as well as the number of active customers accessing its services, as the main reasons behind a year-on-year jump in revenue during the 12 months through to December 31, 2015.
Charles Henri Sabet, chief executive of London Capital Group (LCG), has said he is optimistic about the firm achieving growth in the coming financial year, despite having suffered a number of setbacks in the 12 months through to December 31.
Playtech has said it remains confident that its proposed acquisition of Plus500 will go ahead before the end of the year, with the firm expecting a decision on its application to the Financial Conduct Authority (FCA) to be made next month.
Plus500 has revealed a year-on-year jump in revenue in the six months through to June 30, despite the online trading company having been temporarily suspended from operating in the regulated UK market during the period.
Financial spread betting company IG Group has revealed that it was able to make “good progress” on a number of its strategic initiatives during the 12 months to May 31, 2015, but has also confirmed Tim Howkins will resign as chief executive later this year.
Gaming software and services supplier Playtech has struck a deal to acquire the entire issued ordinary share capital of Plus500 in a deal that values the Israeli spread betting company at approximately £459.6 million (€641.5 million/$702 million).
Playtech has been talking up the opportunities offered by forex and binary trading since its acquisition of financial trading platform TradeFX as it looks to roll out trading and financial betting products to its licensees. But what does the sector think of a vertical that can be as volatile as it can be profitable?