Plus500 Reports New Record Revenues for Q1 2016
- Plus500's total Q1 2016 new customer numbers were down 12% year on year, but 85% higher than Q4 2015.
The London Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin listed brokerage Plus500 (LON:PLUS) has just published its first quarter metrics, showing a strong performance for the three months period which ended on the 31st March 2016. The firm reports both new record quarterly revenues and record active customers.
Looking at the actual figures, Plus500 reached quarterly revenues of $85.2 million (up 26% QoQ and 4% YoY) as well as 67,821 active customers (just slightly higher Q1 2015 but 38% higher from the previous quarter). The reason for the weaker yearly comparison is that the operation benefited greatly from the CHF crisis in Q1 2015 - which was a one-off event. This is also evident in Plus500's total Q1 2016 new customer numbers - 28,792 - down 12% year on year, but 85% higher than Q4 2015.
Asaf Elimelech, the new Chief Executive of Plus500, commented: "We are very pleased with our first quarter performance which is significantly ahead of the last quarter of 2015, and compares favorably against a very strong first quarter last year. We continue to benefit from volatile market conditions which are stimulating new customer additions and trading activity."
"As we noted in February at the time of the 2015 results, we have more high value customers, an enhanced Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real , more robust processes, a stronger brand and more routes to market, supported by a strong balance sheet. We are therefore confident that Plus500 will continue growing and believe we will have another successful year," he added.
Plus500 is retaining its guidance that it will achieve a higher EBITDA margin than that achieved in 2015. The firm reaffirms its base 60% pay-out ratio dividend policy, while it also retains the flexibility to pay special dividends or buy back shares when it generates surplus cash.
The London Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin listed brokerage Plus500 (LON:PLUS) has just published its first quarter metrics, showing a strong performance for the three months period which ended on the 31st March 2016. The firm reports both new record quarterly revenues and record active customers.
Looking at the actual figures, Plus500 reached quarterly revenues of $85.2 million (up 26% QoQ and 4% YoY) as well as 67,821 active customers (just slightly higher Q1 2015 but 38% higher from the previous quarter). The reason for the weaker yearly comparison is that the operation benefited greatly from the CHF crisis in Q1 2015 - which was a one-off event. This is also evident in Plus500's total Q1 2016 new customer numbers - 28,792 - down 12% year on year, but 85% higher than Q4 2015.
Asaf Elimelech, the new Chief Executive of Plus500, commented: "We are very pleased with our first quarter performance which is significantly ahead of the last quarter of 2015, and compares favorably against a very strong first quarter last year. We continue to benefit from volatile market conditions which are stimulating new customer additions and trading activity."
"As we noted in February at the time of the 2015 results, we have more high value customers, an enhanced Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real , more robust processes, a stronger brand and more routes to market, supported by a strong balance sheet. We are therefore confident that Plus500 will continue growing and believe we will have another successful year," he added.
Plus500 is retaining its guidance that it will achieve a higher EBITDA margin than that achieved in 2015. The firm reaffirms its base 60% pay-out ratio dividend policy, while it also retains the flexibility to pay special dividends or buy back shares when it generates surplus cash.