Plus500 sees FY profit and revenue ahead of market expectations

Shares in Plus500 rallied as the online trading platform provider said revenues and profits for the year to the end of December will be ahead of market expectations.

The group said on Wednesday that strong momentum in both trading and attracting new customers continued through to the year end, with record quarterly revenues achieved in the final quarter of last year and around 246,000 new customers joining versus 104,432 in 2016, which is another record.

The company said it has seen strong volumes in crypto currency contracts for difference and an increased interest throughout the year in a category which it introduced in 2013.

Chief executive officer Asaf Elimelech said: "We are pleased to announce another strong period in both revenues and profits. Momentum in the business has continued to be strong with increased interest in our crypto currency CFD offering and record new and active customer numbers, demonstrating our ability to serve our customers' trading needs through product innovation and technology leadership."

At 0930 GMT, the shares were up 15% to 1,013p.