Brexit volatility helped Plus500 achieve 25% revenue growth and 40% more operating cash flow compared to H1 2015.
The London Stock Exchange listed brokerage Plus500 (LON:PLUS) has just published its first half year metrics, showing a strong performance for the six months period which ended on the 30th June, 2016.
The figures show continued growth in active customers, up 12% to 104,119, and in new customers, up 9% to 56,929, substantially ahead of Plus500 expectations. The news of the record performance should not be surprising at all as Plus500 already reported new record revenues in Q1 2016 as well as an all time daily record for new clients following Brexit.
The firm says this performance has temporarily suppressed EBITDA margins and ARPU due to acquisition and onboarding costs being incurred prior to generating revenues from the new customers and that these additional customers are expected to benefit revenues and margins going forward with an anticipated increase in ARPU. At the bottom line, excluding the additional acquisition and onboarding costs, EBITDA margins were over 50%.
Additional operational highlights in H1 included UK market share increase for Plus500 as well as continued mobile and tablet adoption growth - this segment now represents 68% of revenue. The firm also reports it has made a significant investment in compliance.
Asaf Elimelech, Chief Executive Officer of Plus500, commented: "Plus500 achieved record first half results whilst continuing to grow both its Active and New Customers. This performance was driven by continued marketing activity and market Volatility; the UK's Brexit decision boosted customer activity in late Q2 - leading to increased New Customer sign ups, customer re-activations, and customer trading levels.
We have started the second half strongly as these New Customers deliver growth in revenues with an associated bounce back in margins. We are encouraged by the continuing levels of new and existing customer activity resulting from the market volatility and our own actions as we continue to invest in enhancing the business to deliver future growth.
Overall our expectations are unchanged - momentum is expected to continue, resulting in strong growth in 2016."
The London Stock Exchange listed brokerage Plus500 (LON:PLUS) has just published its first half year metrics, showing a strong performance for the six months period which ended on the 30th June, 2016.
The figures show continued growth in active customers, up 12% to 104,119, and in new customers, up 9% to 56,929, substantially ahead of Plus500 expectations. The news of the record performance should not be surprising at all as Plus500 already reported new record revenues in Q1 2016 as well as an all time daily record for new clients following Brexit.
The firm says this performance has temporarily suppressed EBITDA margins and ARPU due to acquisition and onboarding costs being incurred prior to generating revenues from the new customers and that these additional customers are expected to benefit revenues and margins going forward with an anticipated increase in ARPU. At the bottom line, excluding the additional acquisition and onboarding costs, EBITDA margins were over 50%.
Additional operational highlights in H1 included UK market share increase for Plus500 as well as continued mobile and tablet adoption growth - this segment now represents 68% of revenue. The firm also reports it has made a significant investment in compliance.
Asaf Elimelech, Chief Executive Officer of Plus500, commented: "Plus500 achieved record first half results whilst continuing to grow both its Active and New Customers. This performance was driven by continued marketing activity and market Volatility; the UK's Brexit decision boosted customer activity in late Q2 - leading to increased New Customer sign ups, customer re-activations, and customer trading levels.
We have started the second half strongly as these New Customers deliver growth in revenues with an associated bounce back in margins. We are encouraged by the continuing levels of new and existing customer activity resulting from the market volatility and our own actions as we continue to invest in enhancing the business to deliver future growth.
Overall our expectations are unchanged - momentum is expected to continue, resulting in strong growth in 2016."
58% of UK Investors Choose Professional Guidance over 'Finfluencers’
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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