Aug 10 (Reuters) - Trading platform Plus500 reported a rise in half-year core profit on Monday, aided by higher trading activity as the company expanded its U.S. business and rolled out more products, including the fast-growing predictions market.
Here are some more details:
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The Israeli fintech firm reported a 1% rise in core profit to $187.5 million for the six-month period ended June 30, citing growth in trading activity after stepping up investments in customer acquisition.
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Shares of the company were up 5% at 3942 pence in early trading on Monday.
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Plus500 said the first half of 2026 marked a "genuine step-change" for its U.S. business, following investments in the consumer predictions market and the expansion of product offerings, including five-day, round-the-clock trading.
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The count of new customers rose 17% in the half-year period, but fell 12% in the second quarter.
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The group expects to report 2026 revenue and core profit in line with current market expectations, following several analyst upgrades earlier this year.
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Plus500 said additional B2B partnerships, continued scaling of the prediction markets offering and further development of its global futures business are expected to be key growth drivers in the second half.
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The firm continues to evaluate further bolt-on acquisitions.
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Plus500 also announced $182.5 million in shareholder returns, comprising a $100 million share buyback and $82.5 million in total dividends.
Reporting by Simone Lobo in Bengaluru; Editing by Sherry Jacob-Phillips
Source: Reuters