THE online share trading boom that has been thousands of new investors take to the stock market has helped revenues soar at Plus500.
The spread betting and CFD (contracts for difference) house made record revenues of $718 million in 2021 -- $160 million of which came in the fourth quarter.
Plus500 didn’t say how those figures compared with a year ago, but said they are “ahead of market expectations”.
Lockdown saw many take up share trading for the first time, in some cases as they spent money saved while shops and pubs were shut.
Not all have found the experience profitable. A piece in the Sunday Times this weekend was headlined “How my husband’s online trading addiction destroyed our marriage”.
Plus500, which sponsors Atlético de Madrid, says it has 406,000 active customers, almost double what it had pre-pandemic.
The spread betting industry acknowledges that the vast majority of customer lose money.
CEO David Zruia says it has made “progress with our strategic and operational plans to strengthen our position as a leading global multi-asset fintech group”.
The shares rose 36p to 1473p.
Plus500 has been buying back its own shares, spending nearly $13 million so doing since October. Full year results which will include detail on a dividend payment will be made on February 15.
