Financial market volatility has helped to put financial trading group Plus 500 (LON:PLUS) back on track after regulatory issues caused disruption last year.
The group, which faced an ultimately unsuccessful takeover attempt by Playtech (LON:PTEC) last year, said market turmoil sparked by low oil prices and geopolitical events had resulted in strong trading.
Revenue in the year to December 31 rose to US$275.6mln from US$228.9mln a year earlier due to new customers coming on board and existing clients trading more.
Pre-tax earnings before interest, depreciation and amortisation (EBITDA) fell by a better-than-expected 8.6% to US$132.9mln as the rise in customers partly offset extra marketing and regulatory costs.
The group also maintained its dividend policy at a 60% pay-out ratio, with the option to supplement this with the payment of special dividends and share repurchases, as evidenced by the total dividend payment for 2015, which with a special dividend of 33.62 cents per share lifted the pay-out to 100% of net profit of US$96.6mln, equivalent to 84.05 cents per share.
Plus500 had to stop taking on new customers in the UK after May last year due to regulatory concerns about anti-money laundering checks on new clients.
Playtech terminated the planned merger with Plus500 after the ongoing concerns prevented it securing Financial Conduct Authority approval for the deal by the end of 2015.
Plus500 conceded the issues had significantly disrupted its business, but said regulatory and compliance processes related to acceptance of new clients had now completed.
It had a strong start to the new financial year and the first quarter, with more new customers coming on board and existing clients becoming more active.
Chief executive Gal Haber said: "Significant cash flows have enabled the declaration of substantial dividends despite the significant disruption to our business in May 2015."
He added: "We were pleased that Plus500UK began accepting new UK customers again in January 2016 and we are not subject to any regulatory restrictions in each of our regulated entities.
"We enter 2016 with more high-value customers, an enhanced trading platform, more robust processes, a stronger brand and more routes to market, supported by a strong balance sheet.
"We are therefore confident Plus500 will continue growing and we believe we will have another successful year with higher EBITDA margin than achieved in 2015.
"We have started the new financial year strongly and anticipate an active first quarter given strong customer additions and current market volatility."