Plus500 surpasses projections with revenues of $725M, showcasing resilience and strategic expansion, with strong shareholder returns.
In recent forex broker news, Plus500 stands out from earlier predictions to record high full-year revenues of $725M. This figure is more than market expectations of $645 million, showing the strength and stability of a good broker.
During the first half of this year, this UK-based broker's revenue reduced by 28% but managed to recover in Q3, generating $168.1 million in income and an EBITDA amounting to $80.3 million. The FCA-regulated broker expects another uplift as they project the fourth-quarter revenue to be $188.9 million.
One of the strategic expansions is a noticeable entry into the US market evidenced by a sponsorship deal contracted with the Chicago Bulls. This low-spread broker is expanding its activities in the US via B2B and B2C, as well as offering market infrastructure services for institutional clients within the country's futures market.
On the subject of shareholder returns, forex broker Plus500 paid out close to $350 million during fiscal 212 through dividends and stock buybacks. This would further emphasize the company's strong financial position, and its ability to bounce back from hardship and deliver results despite all odds. Board members are optimistic about the future of this Group.
Another Plus500 broker news you should read is: the broker joins the Futures Industry Association (FIA) to strengthen its position in the US derivatives markets.