16th Mar 2021 10:26
(Alliance News) -Â Plus500 Ltd on Tuesday said it remained confident in its outlook after a strong start to 2021.
Shares in the FTSE 250 constituent were up 4.0% at 1,376.50 pence in London.
The Israel-headquartered online trading services provider, ahead of Tuesday's extraordinary general meeting, said trading during the first quarter has remained strong, supported by Customer Income which is performing ahead of the final quarter of 2020.
Revenue in 2021 will be driven through the company's "continued underlying growth of Active Customers, its on-going success in attracting and retaining New Customers and supportive market conditions." While dynamics have continued to be favourable in 2021, the company cautioned that monthly trading results remain volatile.
Earnings for the year will be aided by the company's "efficient" business model, it added, with continued investment in marketing technology.
"Given the company's continued robust performance, and supported by its market-leading proprietary trading platform, its flexible and scalable business model, its robust financial position and consistent track record, the board remains confident about the outlook for Plus500," Plus500 said.
By Lucy Heming;Â [email protected]
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