RATE Group | Cryptocurrency and margin trade clampdown takes shine off bumper half at Plus500 PLC
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Cryptocurrency and margin trade clampdown takes shine off bumper half at Plus500 PLC

13 Aug Cryptocurrency and margin trade clampdown takes shine off bumper half at Plus500 PLC

Posted at 09:17h in Cryptocurrency News by

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Plus500 PLC () shares hit the skids as the  CFD Group cautioned an ‘exceptional’ first half performance would not be repeated.


A boost from nervy financial markets and cryptocurrency trading sent interim numbers through the roof.


Half year turnover jumped 147% to US$466mln as the number of active customers jumped 121% to over 248,000 while underlying profits almost doubled to US$349mln.


Shareholders got an almost six-fold dividend increase to US$1.3786 per share or US$157mln (US$27mln) in total.


“Plus500 is now the biggest CFD Broker in the UK, Germany, Spain and Australia (according to Investment Trends) , we grew our Active Customers in Australia fivefold and started operating in Singapore,” added chief executive Asaf Elimelech.


However, new trading rules on cryptos mean the ‘exceptional’ interim performance is unlikely to be repeated, hesaid , which sparked a bout of profit taking.


A European clampdown since August means…

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