For CFD broker Plus500 Ltd (LON:PLUS), fortunes just keep increasing.
Following the company’s announcement last week that it had generated an all time high in terms of revenues, amounting to $82 million in the first three months of 2015, Plus500 shares have now reached their highest value since the company’s establishment, reaching £7.72 on Thursday.
One of the most remarkable metrics which was reported in the most recent company report was that, at a time when many companies are having to develop means of coping with ever increasing customer acquisition costs, Plus500 managed to onboard 33,000 new customers in the first three months of 2015, whilst reducing client acquisition costs from $1,120 to $892 per user, lower than the entirety of 2014.
Plus500 often cites its efficient operation as a major contributing factor toward its success, a model which has most certainly proven its worth, with the company’s market value standing at £876 million, which equates to more than $1.3 billion, ranking it as Israel’s most profitable internet company.
Plus500 shares rose 5.6% in just one day, shortly after Odey Asset Management increased its stake in the firm to 13%.
Looking at the difference in value between that of last month, and now, demonstrates the rapidly appreciating share prices. At the beginning of March, Plus500’s market valuation was approximately £815 million, or $1.24 billion. It now stands at more than three times the valuation of the NYSE-listed parent of Forex.com, Gain Capital Holdings Inc (NYSE:GCAP), and about 30% the valuation of UK industry leader IG Group Holdings plc LON:IGG).
Chart courtesy of Google Finance.