Plus500 grows despite rough third quarter

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Plus500 grows despite rough third quarter
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Contracts-for-difference specialist Plus500 (LON:PLUS) has said that trading for 2018 will be ahead of current expectations despite revenues for the third quarter being 14% below those for the same period of 2017. New customer acquisition has also slowed to less than half the rate of the third quarter of last year, but active customer numbers were about 8% higher.

Chief executive Asaf Elimelech commented: “Our results for the third quarter continued to show satisfactory levels of trading activity of our Active Customers in comparison to previous years, despite regulatory changes and low market volatility. We continue to focus on our core markets and acquiring high value customers supported by our innovative technological edge and the prospect of potential new licences outside the EEA. We now expect to be ahead of current market expectations for 2018.

Shares in Plus500 rose by 6.57% to 1,330p (as of 12:20 BST).

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