(Sharecast News) - Online trading platform Plus500 said on Monday that full-year results are set to be "substantially ahead" of market consensus as it benefits from an increase in client activity amid recent volatility on the back of the coronavirus outbreak.
Following its trading update at the end of February, it has continued to see "a significantly increased level" of customer trading, along with strong momentum across all financial and operational KPIs.
Revenue from customer income has been "very strong" thanks to heightened levels of market volatility, it said. It has also experienced gains from customer trading performance - gains/losses on customers' trading positions - which is expected to be neutral over time.
"We are at an early stage of the financial year and given the uncertainty regarding the duration of current levels of volatility or the unquantified potential impact from regulatory changes in Australia, it remains difficult to predict the outcome for the full year at this stage," it said.
"Notwithstanding this, we expect revenue and profitability for the full year to be substantially ahead of current consensus expectations."
Plus500 (PLUS)7 May 2024 10:01
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