- First half revenue up 4%
- Strong futures trading
- Confident outlook
Shares in global multi-asset fintech and trading platform Plus500 (PLUS) skipped 2% higher after the firm revealed 15% growth in second quarter revenue, nudging up revenue for the first half to 30 June by 4% to $415.1 million.
The stock has gained around a third so far in 2025 and 50% over the last 12-months, comfortably ahead of the advance in the mid-cap FTSE 250 index.
Chief executive David Zruia enthused: ‘Plus500 delivered further operational and financial progress in H1 2025.
‘We expanded our global presence with new regulatory licences in Canada and the UAE, added to our growing list of clearing memberships with ICE Clear US and announced the exciting acquisition of Mehta Equities in India, which will provide us access to the largest retail futures market in the world.’
FINANCIAL PROGRESS
The group onboarded 56,165 new customers in the half, slightly down year-on-year, although it ended the period with more active customers totalling 179,931, while customer deposits were $3.1 billion, a new six-monthly record, reflecting a focus on higher value customers.
In terms of profitability, the group delivered a 1% increase in EBITDA (earnings before interest, tax, depreciation, and amortisation) to $185.1 million, equating to a 45% margin on sales.
The company noted its growing futures business performed ‘extremely well’ with non-over-the-counter revenue representing 13% of group revenue highlighting its successful diversification of operations into the US futures market.
SHAREHOLDER RETURNS
The group announced shareholder returns of approximately $200 million in the period through dividends and share buybacks and said it would announce new targets alongside the first-half results on 11 August 2025.
The company ended the period with cash of over $925 million and said following such a strong start to the year the board remained confident in the outlook for 2025 and beyond.
This reflects ‘the group's market-leading technological capabilities, balance sheet strength, earnings resilience and the emerging opportunities, particularly within the B2B (Institutional) futures space.’
