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Investing.com -- Plus500 (LON:PLUSP) reported a 4% rise in first-half revenue to $415.1 million and a slight increase in net profit to $149.6 million from $148.8 million a year earlier, the company said Monday.
The fintech firm will return $165 million to shareholders through a combination of share repurchases and dividends.
Shares fell 3% following the results. The company reaffirmed its guidance that full-year 2025 results are expected to be in line with current market expectations.
The payout includes $90 million in buybacks, $35 million under an interim program and $55 million as a special buyback, and $75 million in dividends, split between a $35 million interim payment and a $40 million special dividend.
Both have an ex-dividend date of Aug. 21, a record date of Aug. 22, and will be paid Nov. 11. In the first half, the company repurchased 2,693,395 shares for $101.8 million.
Since 2017, Plus500 has bought back about 38% of its issued shares, which are held in treasury and do not qualify for dividends.
EBITDA increased 1% to $185.1 million, with a margin of 45%. Basic earnings per share rose 8% to $2.05 from $1.90.
The company ended the period with $938.1 million in cash and no debt. Active customers rose 2% to 179,931, while new customers slipped 1% to 56,165.
Average revenue per user increased 2% to $2,307, and average user acquisition cost fell 17% to $1,237.
The average deposit per active customer more than doubled to about $17,250, pushing total deposits to a record $1.5 billion.
Non-over-the-counter operations, including futures and share dealing, generated about 13% of total revenue, up from about 10% in 2024.
"The non-OTC business has certainly grown since 30 June, and although we are not changing our forecasts at this stage, we see upside potential," said analysts at Jefferies in a note.
The U.S. futures business, boosted by ICE Clear US clearing membership in January, is on track to deliver more than $100 million in revenue this year.
During the period, Plus500 secured new regulatory licenses in Canada, Japan and the United Arab Emirates, bringing its total to 15, and announced plans to acquire India’s Mehta Equities to expand into the retail futures market, pending closing conditions.
Total (EPA:TTEF) assets at June 30 were $1.06 billion, with equity of $611.9 million. Selling and marketing expenses reached $168.8 million, while administrative and general costs totaled $63.9 million.