17th Oct 2013 10:23
LONDON (Alliance News) - Plus500 Ltd Thursday said it expects to "comfortably exceed" revenue expectations and "substantially exceed" profit expectations for the year ending December 31, after a 66% increase in third quarter revenue.
Plus500 also reaffirmed its commitment to a pursuing a progressive dividend policy.
Its shares were up 17% to 149.20 pence Thursday morning.
Plus500, which provides a platform for spread betting and trading contracts for difference, said its third quarter revenues rose to USD20.0 million, compared with USD12.0 million for the corresponding three months to September 30 last year.
It clocked 37,000 active customers over the third quarter, up from 31,050 customers for the corresponding period last year.
Plus500 said it secured customer and revenue growth despite despite a relatively quiet quarter in terms of market volatility.
The trading platform provider said that although the UK remains an active and buoyant market, its expansion in the EEA and Australia is gathering momentum.
Plus500 cited its ability to meet growing customer demand as one reason for its success, giving the example of its new interface for the iPhone's new iOS7 operating system.
By Samuel Agini; [email protected]; @samuelagini
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