Publicly listed provider of foreign exchange spread betting and CFD services has released a press release outlining key details that have driven the company during the quarter that ended March 31st. The first quarter proved to bring in another substantial rise by 20% over last quarter’s numbers, coming out at $60.7 million, which is also higher by 207% over last year’s figures.

The number of new customers has been reported at 20,124 which is higher by 63% over the same period last year and broadly in line with figures released last quarter. The number of active customers has also been roughly unchanged over Q4 of 2013, coming in at 50,438.

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At this point in time we might ask the question where did this increase in revenue come from? The core of last quarter’s figure is the average revenue per user, which has increased over the last quarter of 2013 by 16% to come out at $1,204. At the same time the average user acquisition cost has remained broadly in line with figures last quarter, dropping by 24% from a year ago to $576 per user.

According to the press release that accompanied the numbers, Plus500 continues to experience growth in Europe and especially in the UK, where it is among the top 5 CFD trading providers. The statement proceeds to outline that its presence on the Australian market is strengthening through an ongoing brand awareness campaign.

Another key factor in contributing to the positive results is the relatively more volatile market when compared to the previous quarter with particular interest in new IPOs across Europe and North America. The company has successfully added a number of CFDs for newly floated companies using its own proprietary technology which has managed to attract new customers and supported trading volumes from the existing ones.

In conclusion, in the press release Plus500 underlines that the company expects to exceed current market expectations for revenues and profits for the full year 2014. Shares of the company have hit a new all-time high after the London open, spiking higher to trade at 670 pence. As of the time of writing the rally has fizzled out and current levels are around previous all-time highs at 640 pence per share. Update: prices have hit a new all time high just above 680 pence, and are currently trading more than 10% higher.