Financial trading group Plus500 Ltd (LON:PLUS) emerged as one of the few winners of the fallout from the UK’s EU referendum on Monday as it reported a boost from stock market chaos.
Plus500, which allows retail customers to trade financial derivatives such as contracts for difference, said it benefited from the market plunge following the UK's referendum decision to leave the EU on Friday.
The group said the day's volatility led to record spread-bets and gains in new customers.
It said it had avoided a hit from market dislocation and extreme volatility following the vote.
The UK made up 15% of 2015 revenue and the group maintains a “diverse international customer base.”
It added: “Trading for the period since the last update issued on April 18 has continued to be robust and in line with expectations.”
Plus500 is recovering after regulatory issues caused disruption last year.
The group had to stop taking on new customers in the UK after May due to regulatory concerns about anti-money laundering checks on new clients.
It said in February this year that the issues had significantly disrupted its business, but that regulatory and compliance processes related to acceptance of new clients had completed.
Its shares rose 18.44p, or 3.1%, to 617.94p in morning London trading.