Plus500 Ltd (LSE:PLUS), the fintech company specialising in trading platforms, has announced that it is trading in line with recently upgraded market expectations for the fiscal year 2023.
Revenue for the third quarter ended 30 September increased by 5% to US$168.1 million. This comprised trading income of US$153.7 million and interest income of US$14.4 million.
Its underlying earnings (EBITDA) increased by 10% to US$80.3 million, with an EBITDA margin of 48%.
Plus500 ascribed its success to implementing its strategic plan, which has focused on higher-value customer acquisition, geographic expansion and product innovation.
"Our consistent good performance is enabled, supported and progressed by our market-leading, proprietary technology which is developed and maintained entirely by our highly experienced teams," said chief executive David Zruia.
"As a diversified, global business with a clear and proven strategy, Plus500 is well positioned to continue delivering strong results and attractive returns to its shareholders."