Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Plus500 planning $175m shareholder returns as FY results beat expectations

(Sharecast News) - Plus500 reported a fall in full-year earnings and revenue on Tuesday, but results were "significantly ahead" of market expectations and the online trading platform announced plans for $175m in shareholder returns. In the year to the end of December 2023, earnings before interest, tax, depreciation and amortisation fell 25% to $340.5m, while revenue declined 13% to $726.2m.

Plus500 said the "robust" performance came despite lower levels of trading activity across global financial markets during the year.

The company announced additional shareholder returns of $175m, comprising $100m in new share buyback programmes and $75m in dividends.

Chief executive David Zruia said: "Three years ago, Plus500 presented its new strategic plan to become a global, multi-asset fintech group, by expanding into new markets, developing new products and deepening relationships with customers.

"2023 saw further progress against all three strategic objectives: we expanded our US futures businesses, launched a new retail FX OTC trading platform in Japan and extended our portfolio of global regulatory licences to 13. We expanded our core product offering to include a share dealing platform, and a new line of business offering futures and options on futures.

"Our efforts to deepen customer relationships were enhanced by our market-leading technology, and we now have over 26 million customers registered on our platforms. During the period, we achieved a record high average deposit per active customer reflecting our on-going focus on higher value customers and the intuitive nature and reliability of our market-leading technology."

Share this article

Related Sharecast Articles

Unilever to cut third of office roles in Europe - report
(Sharecast News) - Unilever is reportedly planning to cut a third of all office roles in Europe by the end of next year, as the company's new chief executive forges ahead with his plan to boost growth at the struggling consumer goods giant.
BHP and Vale ink deal on UK group action for 2015 Brazil dam breach
(Sharecast News) - Iron ore miner Vale has agreed to pay half of any awards to claimants as part of the UK group action against BHP for the 2015 failure of the Fundao dam in Brazil.
JP Morgan reports big jump in Q2 revenues and profit, but cautions on tail risks
(Sharecast News) - JP Morgan posted big increases on both its top and bottom lines, even as its boss continued to call attention to the potential risks on the horizon.
Months of AT&T call records exposed in data breach
(Sharecast News) - American telecoms giant AT&T revealed on Friday that the call and text logs of its customers were hacked between May and October 2022, and said that at least one person has been arrested.

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.