Company Announcements

2 July 2019

Plus500 Ltd

("Plus500", the "Company") 

Half Year Trading Update

Plus500, a leading online service provider for trading CFDs internationally, today issues the following trading update at the end of the second quarter of its 2019 financial year.

The Company is pleased with the overall performance, and continues to perform in line with current expectations. 

Following a first quarter which was impacted by low levels of volatility in financial markets, revenue for the second quarter increased to approximately $94 million* (Q1 2019: $53.9 million), giving a total of approximately $148 million* for the first half. The level of client spreads and overnight charges for the second quarter was approximately $93 million* (Q1 2019: $82 million), giving a total of approximately $175 million* for the first half. 

During the first half, around 48% of revenue was generated outside the EEA, whilst approximately 23% of revenue was generated by Elective Professional Clients within the EEA.

Of note, there were signs of reduced levels of marketing across the Company's peer group which, along with continued strong and focused marketing investment by Plus500, led to an increase in the rate of new customer recruitment and a reduction in the average cost of acquisition.

Further details of the Company's operational and financial performance will be provided in its half year results for the six months ended 30 June 2019, to be issued in August 2019.

*The revenue figures above are unaudited numbers

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 

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Forward looking statements

This announcement contains statements that are or may be forward-looking statements.  All statements other than statements of historical facts included in this announcement may be forward-looking statements, including statements that relate to the Company's future prospects, developments and strategies.

The Company does not accept any responsibility for the accuracy or completeness of any information reported by the press or other media, nor the fairness or appropriateness of any forecasts, views or opinions express by the press or other media regarding the Group. The Company makes no representation as to the appropriateness, accuracy, completeness or reliability of any such information or publication.

Forward-looking statements are identified by their use of terms and phrases such as "believe", "targets", "expects", "aim", "anticipate", "projects", "would", "could", "envisage", "estimate", "intend", "may", "plan", "will" or the negative of those, variations or comparable expressions, including references to assumptions.  The forward looking statements in this announcement are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results, performance and achievements to differ materially from any results, performance or achievements expressed or implied by such forward-looking statements.  Factors that may cause actual results to differ materially from those expressed or implied by such forward looking statements include, but are not limited to, those described in the risk factors.  These forward-looking statements are based on numerous assumptions regarding the present and future business strategies of such entity and the environment in which each will operate in the future.  All subsequent oral or written forward-looking statements attributed to the Company or any persons acting on its behalf are expressly qualified in their entirety by the cautionary statement above.

Each forward-looking statement speaks only as at the date of this announcement.  Except as required by law, regulatory requirement, the Listing Rules and the Disclosure Guidance and Transparency Rules, neither the Company nor any other party intends to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

About Plus500

Plus500 operates an online trading platform for individual customers to trade CFDs internationally. This offers more than 2,200 different underlying global financial instruments, comprising equities, indices, commodities, options, ETFs, cryptocurrencies and foreign exchange. Individual customers of Plus500 can trade CFDs in more than 50 countries and in 32 languages. The trading platform is also accessible from multiple operating systems (Windows, smartphones (iOS, Android and Windows Phone), tablets (iOS, Android and Surface) and web browsers). Plus500 retains operating licences and is regulated in the United Kingdom, Australia, Cyprus, Israel, New Zealand, South Africa and Singapore.  Customer care is integral to Plus500: customers cannot be subject to negative balances and there are no commissions on trades. Plus500 does not utilise cold calling techniques and does not offer binary options.  A free demo account is available on an unlimited basis for platform users, and sophisticated risk management tools are provided free of charge to manage your leveraged exposure, and stop losses to help customers protect profits and limit capital losses. Plus500 is listed on the main market of the London Stock Exchange, under the symbol PLUS.www.plus500.com