Plus500 has for long been recognised in the industry as a major player. In addition to its established reputation, the firm has just been named as Israel’s most successful internet company by Globes.
This follows from Plus500’s recent revenue declaration at record levels for the first quarter of the year, reaching $82.1 million making it Israel’s most profitable Internet company. This surpassed forecast of $69 million which was estimated by the Numis Investment Bank, one of the major stakeholders in the company.
According to Plus500’s first quarter results, the following interesting facts can be highlighted:
- Record revenue of $82.1 million
- Average user acquisition cost (AUAC) for the quarter is $892, less than its $921 for all of 2014 and $1,120 for the fourth quarter of last year
- 33,000 new clients acquired in the first half of the year, surpassing client acquisition for the last quarter of last year and at lower cost.
- 60% of the after-tax profit was distributed, which was previously 50%, amounting to $92 million last year, compared with $41 million in 2013.
- Last year, the company’s after-tax profit was $102.5 million, which represents a 45% profit margin and can be equated to an after-tax net profit of at least $37 million in the first quarter of 2015 alone.
This makes plus500 Israel’s most profitable public traded internet company. A note worthy achievement indeed considering Israel is a hot hub for startups, which boasts of more NASDAQ listed recently founded high technology companies than all of Western Europe.