Plus500 (LSE:PLUS), the global multi-asset fintech group operating proprietary trading platforms, reported customer income up 24% year-on-year to $460.8m in the six months to 30 June, its strongest first-half figure in five years.
Revenue rose 12% to $462.9m, a three-year high, while EBITDA increased 1% to $187.5m, giving a margin of 41%.
The company said EBITDA growth lagged revenue because it deliberately increased customer acquisition spending, which drove a 17% rise in new customers to 65,723, alongside FX-related cost headwinds.
Chief executive David Zruia said the period "delivered the strongest Customer Income in five years and the highest revenue in three years, reflecting the quality of our customer base, the power of our proprietary technology, and the growing breadth of our global platforms."
The non-OTC business, which includes the group's US operations, grew revenue around 30% to around $70m, now representing about 15% of group revenue versus 13% a year earlier.
Plus500 launched its B2C prediction markets offering in the US in February and added CFTC-regulated sports event-based contracts in June, while also expanding its OTC platform into Canada and Japan.
Active customers reached 197,294, up 10% year-on-year, and the group held cash of over $850m with no debt at period end.
The board said it expects full-year revenue and EBITDA to be in line with current market expectations, following multiple upgrades to those expectations this year.
