Plus500 up on CEO appointment and Q2 update

AIM-listed contracts-for-difference specialist Plus500 (LON:PLUS) watched its share price rise by 3.45% to 1,381p (as of 14:55 BST) after it confirmed the permanent appointment of Interim CEO David Zruia. The company also said that recent trading has been good with strong customer acquisition and retention contributing to strong second quarter revenues. Customer trading performance, which had been unfavourable at the company’s last update, has reverted towards historic levels.

New permanent CEO David Zruia commented: “Having been part of the Plus500 team for almost 10 years, I am honoured to be given the opportunity to become CEO of the Company. It has been exciting to lead the business on an interim basis over the last few months and I believe that Plus500 is in an extremely strong position, both operationally and financially, to deliver future growth for our shareholders.

“This position is highlighted by our exceptionally strong performance during the first half of 2020. The significant number of New Customers on-boarded is a strong signal of the sophistication and accessibility of our proprietary technology platform. This performance is also a testament to our people, who have been fully committed to ensuring that we have offered our customers a consistent, seamless, high quality service in extremely challenging, and unprecedented, circumstances.

“Given our performance in the first half, we remain very confident about the prospects for the Company“.