August 13, 2018 / 6:23 AM / 9 days ago

Plus500 first-half core earnings jump on market volatility

Aug 13 (Reuters) - Plus500 Ltd reported on Monday a near threefold jump in first-half core earnings as geopolitical events resulted in higher-than-expected market volatility, but the online trading platform warned that regulatory changes would hurt its revenue in the near term.

The company, which provides an online platform for retail customers to trade contracts for differences (CFDs), said earnings before interest, taxes, depreciation and amortization (EBITDA) rose to $349 million for six months ended June from $118.5 million a year earlier.

“It is unlikely that the exceptional performance of H1 2018 will be repeated and the impact of rule changes will potentially affect less than half of EEA (European Economic Area) revenues (30 percent of Group revenues) in the short term,” the company said in a statement. (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Amrutha Gayathri)

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