- Online broker Plus500 almost doubled its annual profit after it boosted both sales and margins amid higher transaction volumes.

The company, however, warned that its profit in 2019 was expected to be 'materially lower' than current market expectations due to tighter regulations in the UK.

Net profit for the year through December rose 90% to $379.0m, as revenue climbed 65% to $720.4m.

The company declared a final dividend of $0.6191 per share, down from $0.8129 on-year.

Total dividends for the year, however, amounted to $1.9977 per share, up 18% from 2017's payout of $1.6867.

Plus500's operating margin jumped to 70.2%, up from 59.3% on-year, which it said reflected 'record revenue and operational leverage'.

The total number of transactions in 2018 increased by 6% on-year.

Looking to 2019, the company said new regulation would lead to revenue lower than current market expectations.

'This, combined with our intention to maintain our marketing spend, is likely to result in 2019 profit being materially lower than current market expectations,' the company said.

'Work is ongoing to extend the global footprint and to continue to diversify revenues through growth in current territories and the addition of new operating licences.'

Story provided by