Plus500 Limited (LON:PLUS) jumped again this morning after the trading group upped its full-year guidance for the second time in a month.
The company, which specialises in contracts for difference (CFDs), told the market that the “strong momentum” it mentioned in last month’s update has continued.
As a result, the board expects results for the year to 31 December, which will be published on 12 February, will be better than even the revised forecasts.
READ: Plus 500 to beat forecasts
“2018 was a landmark year for the Group, during which Plus500 was admitted to the Main Market and joined the FTSE250 Index,” said chief executive Asaf Elimelech.
“We are delighted, in such a momentous year, to have delivered both strong operational performance and record financial results. Our focus remains on gaining market share in our current markets and growing rapidly in new jurisdictions by acquiring, engaging and retaining high value customers.”
City broker Liberum had expected the company to generate revenue of US$116mln in the final quarter of the year, but it has now pushed that up to US$145mln.
As for the full year, Liberum now expects trading income of US$711mln (previously US$682mln) and adjusted pre-tax profits of US$495 (prev. US$461).
Shares rose 4% to 1,354p on Thursday morning. So far in 2018, the stock has added almost 50%.Investors bet on Plus 500 as trading group ups guidance once again.