The CFD trading provider is expected to reach revenues to 354Mn USD, and there is a prediction of an EBITDA of approximately 190Mn USD. Plus500 is an online trading provider of CFDs, or Contracts for Differences, which has announced a trading update on Monday 30th December.
What is the Trading Update for Plus500?
The trading update for Plus500 shows an expected report of their performance since the financial year ended. The analytical report was published throughout the London Stock Exchange (LSE), which announced that Plus500 will reach revenue of approximately 354Mn USD.
According to the financial analysis statement from the Board of Plus500, the company has ended stronger than ever, compared to its decline in the first half of 2019. Despite the fact that the revenue of 2019 did not break records, as that in 2018, it was still good news nonetheless. Asaf Elimelech, Chief Executive Officer, CEO, of Plus500, commented on the trading update with, “We finished the year in good financial and operational shape following a period of change for the industry, which has provided a more certain regulatory outlook for Plus500.
“I am encouraged by the momentum we have shown in the second half, reflecting continued optimisation of our marketing spend, enhancements to our customer service, and improvements in our proprietary technology platform. Looking to 2020 we are confident of the prospects for the Group as we focus on further strengthening our customer offering and market positions.”
What Happened in the Beginning of 2019?
In the beginning of 2019, this trading service provider revealed with investors and traders alike that the first quarter of 2019 was reduced by eighty two percent, which is not an easy thing to come back from. The reason behind the decline was because the CFDs trading provider was deeply influenced by the weak financial market conditions in Forex, equities, indices, and every other trading asset. The only asset that was unbothered was bonds, which is not a highly preferred trading tool for investors.
However, the trading firm managed to bounce back in the second and third quarter of 2019, and even increased revenue to 94Mn USD in the second quarter. The third fiscal quarter managed to reach revenues to 110.6Mn USD, moving higher and higher up the ladder.
Plus500 will offer more details on their financial performance in a thorough and extensive report for the financial year of 2019. They are planning on releasing the details with the preliminary results report on Wednesday the 12th of February, 2020.