No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Plus500 shares jumped by 5% on Monday as the fintech kept its full-year outlook unchanged and delivered record interim revenues, although expenditure on US expansion saw profits edge ahead by 1%.
Revenue for the six months to June 30 rose 12% year on year to $462.9m while customer income jumped 24% to a fiveyear high of $460.8m/ Core earnings were up 1% to $187.5m.
The group highlighted rapid scaling in the US, where it is expanding beyond its traditional overthecounter trading business into futures and physical share dealing.
NonOTC revenue jumped 30% yearonyear to just under $70m, accounting for around 15% of total turnover, with the division on track to deliver about $140m for the year. Plus500 also unveiled a further $182.5m in shareholder returns, comprising a $100m buyback and $82.5m in dividends.
Reporting by Frank Prenesti for Sharecast.com
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.