Latest news with #DavidZruia
Daily Mail
28-04-2025
- Business
- Daily Mail
Plus500 lifts guidance as market volatility delivers 'excellent start'
Plus500 expects its annual results to surpass market forecasts following an 'excellent start' to the year. The stock trading paltform saw its earnings before nasties soar by 23 per cent from the fourth quarter of 2024 to $93.8million in the three months ending March. Turnover increased by 13 per cent to $205.9million, primarily driven by a $15.4million gain on customers' trading positions amid elevated financial market volatility. While the number of active customers shrank by 4 per cent to 130,514, their average deposits more than doubled to $12,450, spurred by Plus500's focus on attracting and holding onto higher-value traders. During this period, Plus500 also agreed to acquire financial services business Mehta for £20million in order to capitalise on the Indian retail trading market, the world's largest by volume. More than 150 billion futures contracts were traded in India last year, equivalent to over three-quarters of global transaction volumes, according to the Futures Industry Association. David Zruia, chief executive of Plus500, said: 'Plus500 has made a strong start to the year achieving strategic progress across several important pillars of growth.' He added that the Metha takeover would help 'deliver valuable synergies with our US futures business as we continue to establish our global futures offering. 'With the excellent start we have made in 2025, the board anticipates that the FY2025 results will be ahead of current market expectations.' Founded in 2008 in Israel, Plus500 specialises in selling derivatives called contracts for difference (CFD), which allow traders to speculate on the price of an asset, such as stocks or commodities, without owning the asset. The London-based company enjoyed enormous growth during the peak of the Covid-19 pandemic as heightened market uncertainty boosted day trading and amateur retail investing levels. It has since expanded into multiple markets, recently launching a subsidiary business in the United Arab Emirates after gaining a regulatory licence from the country's Securities and Commodities Authority. Analysts at Peel Hunt said: 'Plus500 continues to deliver strong results, whilst dealing with current market volatility effectively.' Plus500 shares fell 2.2 per cent to £29.82 on Monday morning, making them the FTSE 250 Index's worst performer, although they have still grown by around 38 per cent over the past year.
The Independent
18-02-2025
- Business
- The Independent
Plus500 revenues rise after jump in number of new customers
Trading platform business Plus500 posted stronger revenues as it was boosted by rising customer numbers over the past year. It came as the London-listed group also disclosed plans to hand money back to investors through a share buyback. On Tuesday, bosses at Plus500 hailed a 'strong' performance in recent months, as it benefited from new customers trading on the financial markets. The firm reported a 30% increase in new customers, to 118,010, in 2024, with particularly strong growth in the final quarter of the year. Our strong performance was driven by our market-leading proprietary technology, our international brand recognition, and our robust operating fundamentals David Zruia, chief executive of Plus500 It helped to contribute to a 6% increase in revenues to 768.3 million dollars (£609 million) for the year. It said customer growth was supported by investment into its technology over the past year, as well as international growth. David Zruia, chief executive of Plus500, said: 'We are delighted to announce a strong set of results for full-year 2024. 'Our strong performance was driven by our market-leading proprietary technology, our international brand recognition, and our robust operating fundamentals. 'With our proprietary technology, financial strength, extensive global portfolio of regulatory licences and customer base of over 30 million registered customers worldwide, Plus500 is extremely well-positioned for 2025 and beyond.' The company said on Tuesday that it plans to distribute about 200 million dollars (£158.5 million) to shareholders. It said this will comprise 110 million dollars (£87.2 million) worth of share buybacks and 90 million dollars (£71.3 million) of dividends. Shares in the company were 5% lower in early trading.
