Plus500 has recorded a strong second quarter this year, with revenue reaching $209.3 million. This performance was supported by continued strength in customer deposits, which stood at $1.5 billion during the three months ending in June.
The broker’s revenue for the year’s first half climbed to $415.1 million. It explained that about 13 percent of this figure came from its new push into the US futures market, outside its usual over-the-counter (OTC) operations.
Customer deposits stood at $1.16 billion in the first quarter, bringing the total for the first six months of the year to $3.1 billion. This is the highest deposit figure the company has ever recorded in a half-year period.
The Firm Experienced Strong Earnings Backed by Higher User Numbers
The latest quarterly revenue rose by 15 percent when compared to the same quarter last year. It also showed a small increase of 1.7 percent from the first quarter of this year. The broker’s earnings before interest, taxes, and other costs (EBITDA) reached $91.3 million, which is 12 percent higher than the second quarter of last year.
Even though the EBITDA was slightly lower than the $93.8 million recorded in the first quarter of this year, the margin remained strong at 44 percent. This shows the company continues to operate efficiently while spending carefully.
During the second quarter, Plus500 welcomed 29,268 new customers. This number is higher than the 24,810 new customers added in the same quarter last year. The total number of active customers reached 132,602, showing steady growth from 123,803 a year ago.
Broker Expands Global Presence Through Licences
Earlier this year, Plus500 received a licence in Canada and is now preparing to offer OTC instruments there. It also secured a new regulatory approval in the United Arab Emirates. With these two additions, the broker now holds 15 licences from different regions.
The company shared that it returned $200 million to shareholders in the first half of the year through both dividends and share buybacks. These return programmes are expected to continue and may grow even further in the coming months.
The broker remains completely free of debt and ended June with $925 million in cash. This strong financial position gives it more room to explore new markets and invest in its global plans.
Meanwhile, Capital Group, an American asset management firm, recently bought a 5.44 percent stake in Plus500. This move makes Capital Group the third-largest shareholder in the company.
Although the full details of the deal were not released, the value of the shares on the day of disclosure was about £133.1 million, which equals roughly $181 million in market price.