StockMarketWire.com - Online contracts for difference broker Plus500 recorded a big jump in first-quarter revenue as intense market volatility encouraged more trading activity.

Revenue for the three months through March rose 487% on-year to $316.6m, equivalent to 89% of revenue in the entire 2019 financial year.

The increase resulted in the company achieving earnings before interest, tax, depreciation and amortisation over the period of around $231.6m.

Revenue and profitability for the full year was expected to be 'substantially ahead of current consensus expectations', the company added.

Plus500 reiterated its shareholder returns' policy to offer at least 60% of net profits to shareholders - distributed through a combination of dividends and share buybacks, with at least 50% being made by way of dividends.



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