Plus500 rockets on strong results and special divi payment

19th Feb 2014 13:48

Plus500 shares leapt more than 20 per cent on Wednesday after it revealed full-year revenue more than doubled and the board declared a special dividend. The firm, which provides online trading platforms for retail customers, said revenue increased 105% to $115.1m (2012: $56.1m), driven by its activities in the European and Australian markets.A final dividend of 15 cents a share was announced alongside a special dividend of 13.69 cents a share. Earnings before interest, tax, depreciation and amortisation (EBITDA) almost tripled to $67.3m (2012: $23m), while net profit rose from $17.1m to $50.6m. Earnings per share totalled 47 cents, up from 17 cents a year earlier. The group's Chief Executive, Gal Haber, said the company was "delighted" by the results, the first since it listed in London in July last year. "Our business has shown strong growth throughout 2013 during which time we generated record levels of both revenue and profits," he said. "The initial public offering has provided a positive catalyst for our business, particularly within the European and Australian markets where our strong presence and innovative marketing initiatives are generating significant levels of activity across our platform."The business remains well placed to build on the growth experienced during 2013 as we look to continue our growth ambitions and expand our geographic footprint [...] In view of the strong start to 2014, the board remains confident of delivering further considerable growth in 2014 and beyond."The share price rocketed 20.47% higher to 399.96p by 13:47. NR