25th Feb 2015 08:53
LONDON (Alliance News) - Plus500 Ltd, which provides retail clients with financial trading services, Wednesday said net profit doubled in 2014, bolstered by a strong end to the year as trading activity on its platforms was boosted by heightened market volatility.
In a statement, Plus500 said net profit increased to USD102.5 million in 2014 from USD50.6 million in the prior year, as the number of active customers on its platforms grew by 24% to reach 105,976. Before tax, profit grew to USD138.1 million from USD67.2 million, as revenue increased to USD228.9 million from USD115.1 million.
Plus500 said average revenue per user increased to USD2,160 in 2014 from USD1,325 in 2013.
Plus500 increased its dividend for 2014 to USD0.5351 from USD0.2204, and also increased its special dividend to USD0.2657 from USD0.1369.
"Looking ahead, we continue to build our brand online as well as through traditional offline channels such as sponsorship of Atlético Madrid Football Club. We are also maintaining our technological lead through innovation and development to give our customers ease of access to our platform via the PC or any mobile device. The board believes that its marketing efforts to reach new customers will continue to give the company momentum resulting in sustained strong growth in 2015," Chief Executive Gal Haber said in a statement.
Plus500 shares were up 4.4% at 608.55 pence on Wednesday morning.
By Samuel Agini; [email protected]; @samuelagini
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