The broker noted that the revenue figure in Q4 is largely supported by Customer Income which is expected to generate $166 million in the last three months of the year. Plus500 reported it experienced a consistently high level of customer trading activity throughout 2021.
The number of Plus500’s active numbers remained high throughout the year at 406,000, of which 171,000 in the fourth quarter. The London listed broker onboarded 196,150 new customers for the year and 33,000 for the final quarter.
The customer trading performance for the year is expected to be around $16 million.
Additionally, Plus500 expects EBITDA to reach $71 million for the quarter and $387 million for the year. The basic earnings per share is expected to be approximately $3.10.
David Zruia, Chief Executive Officer, commented:
“We are pleased to have delivered another strong year of financial performance, as well as making significant progress with our strategic and operational plans to strengthen our position as a leading global multi-asset fintech group.
With the Group having further strengthened its positioning during 2021, the Board remains confident about the future for Plus500 and continues to expect that the Group will deliver sustainable growth over the medium to long term.”
The retail broker has repurchased 617,679 of its shares for a total consideration of $10.8 million since the announcement of its latest buyback programme, which will end in February.
Plus500 began buying back its ordinary shares from the market in 2017. Since then, the firm has repurchased over $211 million worth of its own ordinary shares.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.