Trading platform Plus500 Ltd (LSE:PLUS) hailed “excellent operational and strategic progress” in a full-year trading update posted on Monday.
The London-listed mid cap generated US$725 million in revenues and US$340 million in underlying earnings (£570.5 million/£267.5 million) for the year ending 31 December, easily surpassing market expectations.
Earnings were bolstered by an expansion of the group's US futures businesses, the launch of a localised retail trading platform in Japan and further progress in the United Arab Emirates.
Peel Hunt analysts also attributed the bumper performance to “better-than-expected customer trading activity in the final quarter”.
During the year, Plus500 announced shareholder returns of approximately US$350 million split between dividends and share buybacks.
Plus500 did not give any specific 2024 targets prior to fully audited results due on 20 February.