In the first half of the year, Plus500, an internet-based trading service, predicted its annual returns to exceed market estimations, recording a 13% increase in fresh customers. During the pandemic and in 2022 following the invasion of Ukraine by Russia, trading platforms gained from the rise of market volatility. In spite of a more tranquil 2023, end-of-year revenue for trading platforms soared due to the escalated volatility resulting from the Gaza conflict.
The company, which bases its operations in Israel, is anticipated by analysts to report an annual income of $697.8 million (€631.7 million), accompanied by a core profit of $314.6 million, based on the company’s calculated consensus. Plus500 offers a trading platform for various financial offerings such as stocks, exchange-traded funds (ETFs), elements of trade, commodities and currencies, spanning over 60 markets across Europe, Asia, Ireland, and the UK.
The firm announced a proposal to give back $185.5 million to its investors, which includes a share repurchase plan amounting to $110 million and dividends totalling $75.5 million. Throughout the six month period concluding on June 30th, the group’s income ascended by 8% to $398.2 million, accompanied by a rise of 6% in core profit.