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Plus500 sees up huge profits surge as crypto trading drives activity

The interim dividend goes up almost six times to US$1.3786 per share
CFD
Bumper sales, profits, dividend and customer numbers

Feverish cryptocurrency trading sent interim numbers from CFD group Plus500 PLC (LON:PLUS) through the roof.

Half-year turnover jumped 147% to US$466mln as the number of active customers jumped 121% to over 248,000 while underlying profits almost doubled to US$349mln.

READ: Plus500 boosted by US$10mln share buy-back programme, improved trading news

Shareholders get the benefit as the interim dividend goes up almost six times to US$1.3786 per share or US$157mln (US$27mln)  in total.

New trading rules on cryptos mean the ‘exceptional’ interim performance is unlikely to be repeated, the company said.

Asaf Elimelech, chief executive, said the first quarter particularly was very strong, which had enabled it to pay the generous interim dividend.

“Plus500 is now the biggest CFD Broker in the UK, Germany, Spain and Australia (according to Investment Trends) , we grew our Active Customers in Australia fivefold and started operating in Singapore,” added Elimelech.

Third-quarter trading was in line with expectations and Plus500 is on track to meet market forecasts for the full year, said the statement.

 

 

 

 

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