Plus500 delivers strong Q2 despite subdued conditions

1st Jul 2014 08:34

Plus500, the online trading platform group, said that second-quarter results are above analysts' forecasts.The company, which provides a platform for retail customers to trade CFDs internationally, said that despite relatively subdued market activity both revenue and profit for the second quarter are expected to be "ahead of market expectations".Margins remain strong, helped by increasing average revenue per user rates and improvements in online marketing."These trends have more than offset a slower quarter of customer acquisition which has been particularly noticeable during recent ongoing sporting events."The company did not give a forecast for the full year, but said it "looks ahead with confidence" as it improves customer acquisition, retention and revenue generation.The stock was up 7.3% at 491.63p by 08:09 on Tuesday.BC