Updates

Plus500 - Soon-to-be prospective PE just 6.6

December 2016

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The sale of 15.5m shares by directors at 650p (they retain 22.1%) unsettled the shares but its Q3 trading update shows it’s well on track with 14% revenue growth in the first nine months to US$236.3m.Plus500, a leading UK provider of commission free trading in CFDs, added another 25,000 customers in Q3 taking total new customers to 82,000 in the first nine months. The number of active customers also rose 12% to 131,346, while average revenue per customer increased 7% to US$1,107 in Q3 versus Q2.Part of the problem with such rapid new customer growth is that the costs of acquisition and customer onboarding are felt up-front, which is why EBITDA margins fell to 37% in H1 ’16 versus 44% in H1 ’15. So it was rea ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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