Derivatives specialist Plus500 PLC (LON:PLUS) expects profits this year will be substantially ahead of previous forecast following a surge in trading activity from the recent market carnage.
Revenue from customer income has been very strong due to the heightened levels of market volatility, while it has experienced gains from customer trading performance, which is expected to be neutral over time.
There has been a significantly increased level of customer trading activity alongside strong momentum across all financial and operational KPIs.
“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.
“Notwithstanding this, we expect revenue and profitability for the full year to be substantially ahead of current consensus expectations.”