1st Jul 2014 08:55
LONDON (Alliance News) - Online trading platform provider Plus500 Ltd Tuesday said its expects revenue and profit in the second quarter to be ahead of market expectations despite "relatively subdued market activity".
The company said earnings before interest, taxation, depreciation and amortisation margins have continued to be strong, underpinned by increased average revenue per user and ongoing improvements in the efficiency and effectiveness of its online marketing efforts.
"These trends have more than offset a slower quarter of customer acquisition which has been particularly noticeable during recent ongoing sporting events," the company said.
Plus500, which listed last year, said it its too early to predict the outcome for the full year but with the benefit of ongoing initiatives to improve the company's customer acquisition, retention and revenue generation, it looks ahead with confidence.
The company will publish its interim results for the six months ended June 30 on August 13.
Plus500 shares were quoted up 4.3% at 477.98 pence Tuesday morning.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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