Plus 500 beats forecast

PLUS500 said yesterday it will beat market expectations for the year, despite a slowdown in trading.

The London-listed online trading business enjoyed revenues of around £528.7m in 2021, which included £117.8m in the final quarter of the year.

Revenues were ‘ahead of market expectations’ and ensured a ‘strong level’ of earnings for the 12 months, the firm said. Plus500 expects to post earnings before tax and interest of £285m for the annum. Both revenues and earnings growth slowed during the 12 months as the pandemic trading boom eased.

Boss David Zruia said: ‘We are pleased to have delivered another strong year of financial performance.’