Plus500 triples revenue

The online trading platform doubled full-year revenue and tripled first quarter revenue.

Online trading for difference (CFD) platform Plus500 Ltd. (AIM: PLUS) expects to exceed forecasts for 2014, after doubling its full-year and tripling its first quarter revenue.

Full-year revenue rose 105% to $115.1 million from $56.1 million in 2012. First quarter 2014 revenue rose 207% to $60.7 million from $19.8 million for the corresponding quarter of 2013.

The number of new customers rose 53% to 56,819 at the end of 2013 from 37,050 customers a year earlier, and the number of active customers rose 47% to 85,795 customers from 58,343 customers. Average revenue per user (ARPU) rose 37% to $1,325 per month in 2013 from $962 per month in 2012. First quarter ARPU doubled to $1,204 per month from $580 per month in the corresponding quarter.

"The company continues to see strong growth across Europe, especially in the UK, where it is now amongst the top five online CFD trading providers. The company also continues to make progress in other key growth territories, including Australia, where its brand and profile is strengthening. The company believes that the ongoing improvement in the brand's strength is a significant contributor to its continued ability to attract new customers at an attractive cost," said Plus500.

"The Company also benefited from market volatility and a buoyant IPO market across Europe and in North America during the period. To accommodate for these new IPOs, the company, using its proprietary technology, added a number of new CFD instruments to the platform, which has supported both new customers sign ups and revenue from existing customers."

Published by Globes [online], Israel business news - - on April 2, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

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