16th Mar 2020 09:06
(Alliance News) - Plus500 Ltd on Monday said it expects its 2020 results to beat current market consensus forecast amid heightened volumes of trading across global financial markets.
The online trading services provider said it continues to see "significantly increased" level of customer trading activity since the end of February. Revenue from customer income has been "very strong", Plus500 said, thanks to the heightened levels of market volatility.
The company also said it has experienced gains from customer trading performance, which is expected to be neutral over time.
Looking forward, Plus500 said it expects revenue and profitability for the full year to be "substantially" ahead of current consensus expectations.
The company said it will issue its first-quarter trading updater on April 7.
Plus500 shares were trading 7.4% lower in London on Monday morning at 717.60 pence each.
By Evelina Grecenko; [email protected]
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