StockMarketWire.com - Online broker Plus500 said its revenue rose 10% in the third quarter, boosted by a jump in customer numbers.
Revenue for the three months through September increased to $110.6m, up from $100.1m on-yea, the company said in a trading update.
The number of new customers jumped 18% to 24,359, while active new client volumes rose 9% to 110,939.
Average revenue per user rose 2% to $997.
Plus500 said trading for the first nine months of 2019 was in line with current expectations for the year.
'Underlying operational performance and new customer acquisition metrics remain robust,' chief executive Asaf Elimelech said.
'We are confident we can continue to outperform our peer group in terms of customer acquisition, by maintaining the level of highly-targeted marketing investment to exploit market opportunities as they appear.'
'Like all operators in the sector, Plus500's performance for the remainder of the year is dependent, among other things, on financial market conditions providing sufficient trading opportunities for customers.'
'However, we are encouraged by the continued improvement reported in the third quarter and we remain on track to meet expectations for the year as a whole.'
Story provided by StockMarketWire.com
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