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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Plus500 Ltd | LSE:PLUS | London | Ordinary Share | IL0011284465 | ORD ILS0.01 (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -46.00 | -2.05% | 2,200.00 | 2,200.00 | 2,202.00 | 2,246.00 | 2,182.00 | 2,240.00 | 93,161 | 13:18:22 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Security,commodity Exchanges | 726.2M | 271.4M | 3.4195 | 6.45 | 1.75B |
From May 2019 to May 2024
TIDMPLUS
RNS Number : 8881I
Plus500 Limited
05 September 2016
5 September 2016
Plus500 Ltd.
("Plus500" or "the Group")
Interim Results for the six months ended 30 June 2016
'Record half year revenues and profits; increased dividend'
Plus500, a leading online service provider for retail customers to trade CFDs internationally, is pleased to announce its interim results for the six months ended 30 June 2016.
Financial Highlights:
Hot Features
Premium
H1 2016 H1 2015 Change
-------------------- -------- -------- ------
Revenues $158.8m $127.0m 25%
-------------------- -------- -------- ------
EBITDA(1) $59.1m $55.5m 6%
-------------------- -------- -------- ------
Net profit $44.5m $40.6m 10%
-------------------- -------- -------- ------
Net cash $96.2m $95.5m 0.7%
-------------------- -------- -------- ------
Earnings per share $0.39 $0.35 11%
-------------------- -------- -------- ------
ARPU(2) $1,525 $1,362 12%
-------------------- -------- -------- ------
Operating cash
flow $36.8m $26.2m 40%
-------------------- -------- -------- ------
Operating cash
conversion(3) 95% 86% 10%
-------------------- -------- -------- ------
Interim dividend
per share (cents) $0.2324 $0.2121 10%
-------------------- -------- -------- ------
Interim dividend
payout ($m) $26.7m $24.4m 9%
-------------------- -------- -------- ------
Operational Highlights:
-- Record first half results:
o Continued growth in Active Customers(4) - increased 12% to 104,119 (H1 2015: 93,267)
o Continued growth in New Customers(5) - increased 9% to 56,929 (H1 2015: 52,217)
-- Increase in New Customers a record for H1 and substantially ahead of expectations:
o This has temporarily suppressed EBITDA margins and ARPU due to acquisition and onboarding costs being incurred prior to generating revenues from the New Customers
o These additional customers are expected to benefit revenues and margins going forward with an anticipated increase in ARPU from such customers
o Excluding the additional acquisition and onboarding costs, EBITDA margins were over 50%
-- UK market share increased as a result of improved brand and product awareness
-- Mobile and tablet adoption have continued to grow and now represent 68% of revenue
-- The Group has made significant investment in compliance which is reflected in an improved regulatory culture
throughout the Group
Current trading:
-- Current trading in the third quarter to date has continued to be strong, benefitting from the New Customers delivering revenues, with improving margins
Asaf Elimelech, Chief Executive Officer of Plus500, commented:
"Plus500 achieved record first half results whilst continuing to grow both its Active and New Customers. This performance was driven by continued marketing activity and market volatility; the UK's Brexit decision boosted customer activity in late Q2 - leading to increased New Customer sign ups, customer re-activations, and customer trading levels.
We have started the second half strongly as these New Customers deliver growth in revenues with an associated bounce back in margins. We are encouraged by the continuing levels of new and existing customer activity resulting from the market volatility and our own actions as we continue to invest in enhancing the business to deliver future growth.
Overall our expectations are unchanged - momentum is expected to continue, resulting in strong growth in 2016."
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014
(1) EBITDA - Earnings before interest, taxes, depreciation and amortisation.
(2) ARPU - Average revenue per user.
(3) Operating cash conversion - Cash generated from operations / EBITDA.
(4) Active Customers - Customers who made at least one real money trade during the period.
(5) New Customers - Customers depositing for the first time during the period.
For further details:
Plus500 Ltd Tel: +972-4-8189503 Elad Even-Chen, Chief Financial Officer ir@Plus500.com Liberum - Nomad and Joint Broker Tel: 020 3100 Clayton Bush, Josh Hughes 2222 www.liberum.com Berenberg - Joint Broker Tel: 020 3207 Chris Bowman, Amritha Murali, Marie Stolberg 7800 www.berenberg.de/en MHP Communications Tel: 020 3128 Reg Hoare, Tim Rowntree, Kelsey Traynor 8100 plus500@mhpc.com
About Plus500
Company website: www.plus500.com
Plus500 has developed and operates an online trading platform for retail customers to trade CFDs internationally over more than 2,250 different underlying global financial instruments comprising equities, indices, commodities, options, ETFs and foreign exchange. The Company enables retail customers to trade CFDs in more than 50 countries. The trading platform is accessible from multiple operating systems (Window, smartphones (iOS, Android and Windows Phone), tablets (iOS, Android and Surface) and web browsers). The Directors believe that the success of the Company to date has been primarily due to the proprietary technology it has developed and continues to develop to support the trading platform. The trading platform has been designed to be as intuitive and easy to use as possible. The trading platform has been localised into 31 languages. The Directors believe that this emphasis on technology, together with the Company's targeted online marketing strategy, has helped to differentiate the Company from its competitors.
Business Update
Introduction
The six months ended 30 June 2016 have seen the Group deliver strong operating performance, which includes record first half revenues and profits and a record number of Active Customers. Our core CFD ("Contracts for Difference") market continues to establish itself within the global retail investment community as investors seek more diverse financial instruments to trade, and to enhance and hedge their portfolio returns and risk. The broader appeal of CFD trading across Europe remains an important component of Plus500's growth strategy and leaves the Group well placed for the future.
The Group had a record start to 2016 with revenues during the period up 25% to $158.8 million (H1 2015: $127 million) and profit before tax up 12% to $58.5 million (H1 2015: $52.1 million). The Group's performance has been driven by its highly successful online marketing campaigns, diverse product offering and its user-friendly platform, which attracted a record number of New Customers.
Dividends
This solid performance further underpins the Board's commitment to pursuing a strong dividend policy and therefore it is pleased to declare an interim dividend of $0.2324 per share (H1 2015: $0.2121) representing a total payout of $26.7m (H1 2015: $24.4 million) in relation to the period. The ex-dividend date is 15 September 2016, the record date 16 September 2016 and payment date 17 November 2016.
The Board remains committed to its dividend policy of a 60% pay-out ratio with payment of special dividends at the end of the year if appropriate and flexibility to buy back shares.
Operational Review
Plus500 operates from a strong operational footprint across mainland Europe and Australia. Alongside growing market share in its core European operations, the Group is currently exploring a number of opportunities to build its brand and further extend market reach.
The Group continues to invest in the growth of the business, increasing levels of marketing to acquire New Customers to contribute to future revenue. This includes the main sponsorship of Atlético Madrid as well as introducing mass media events.
The UK's Referendum decision to leave the EU showed the strength of Plus500's platform, when the Group's systems operated smoothly and without interruption or malfunction despite a record of more than doubled activity compared to regular trading days. Many customers who were not active prior to the Referendum reactivated their accounts and used the platform and many New Customers were added during this period due to the prolonged market volatility.
Overall, New Customers increased 9% to 56,929 (H1 2015: 52,217) during the six months, substantially ahead of market expectations, resulting in significantly higher New Customer acquisition and onboarding costs than the market expected. Marketing for new customers is the principal expense of the Group which continues to have an otherwise low overhead base. Approximately an additional 19,500 customers above expectations were recruited which meant that an additional $26 million of costs were incurred, suppressing EBITDA margins by 16% for the half year. Despite this, the Group was pleased that the additional customers were acquired at broadly the same cost per customer as those acquired prior to 2016.
2016 first half margins were therefore lower than 2015 due to the increase in customer numbers and also due to activity being skewed towards the end of the period, which resulted in two effects:
-- when a New Customer is signed up full AUAC is expensed, while the revenue is recognised only for that customer's activity during the relevant period
-- when a New Customer starts trading the ARPU is diluted, as they may only trade for part of the relevant period
These New Customers are expected to provide revenue growth in future periods, enabling margins to increase when the ratio of New to Active Customers narrows.
Overall, the Group was profitable every month in the year to date and Plus500's business model continues to be extremely cash generative with 95% conversion of operating profit to cash flow (H1 2015: 86%). Net cash stood at $96.2 million as at 30 June 2016 (31 December 2015: $156.5 million) excluding that held in client segregated accounts and after the payment of dividends of $96.6 million in H1 2016 (H1 2015: $65 million).
Continuous development
The Company is the second largest CFD provider in the UK, based on Investment Trends' report dated July 2015, whilst the Group's revenues from the UK have increased from 15% of the Group's total revenue in 2015 to 18% in the first half of 2016 as a result of improved brand and product awareness.
The growing importance of mobile technology within the CFD trading industry and the Group's leadership in this area are reflected in the fact that during 2015 approximately 65% of the Group's total trades executed on its trading platform were completed on a mobile device, whereas approximately 48% of the nearest competitor's customer CFD trades were executed on a mobile device.(6) In H1 2016 the adoption of mobile and tablet have continued to grow and now represent 68% of all Plus500's customers.
Overall customer satisfaction rates have been significantly boosted by the introduction of live chat and are significantly higher than compared to a year ago. Customer service remains a key area of investment and focus for the Group and is an additional strong differentiator in New Customer acquisition and retention.
During H1 the Group has invested resources to develop and enhance its customer service initiatives, and some of the benefits are already being reflected in our churn rates which have decreased by 11% from 48% in Q2 2015 to 37% in Q2 2016 (H1 2015: 41%, H1 2016: 38%).
Regulatory update
The industry in which the Group operates is highly regulated. As a result, the Group has continued to invest in its regulatory and compliance personnel and its systems and processes with a strong focus on best practice and maintaining open dialogue with the regulators. Overall, the Group's has made significant investment in compliance which is reflected in an improved regulatory culture throughout the Group.
There were no significant changes to the regulatory environment which affected the Group in the first half of 2016, and the Group continues to monitor closely developments in its principal markets. Belgium, where there were some changes to the regulatory environment since the half year end, is not a material market for the Group.
Board changes
During the period we were pleased to announce the appointment of Penelope Judd as a Non-Executive Director of the Company. Ms. Judd was also appointed as the chairman of the Company's new regulatory and risk committee. She is a chartered accountant with over 30 years of City and financial services experience specialising in compliance, governance, regulation, corporate finance and audit, principally with KPMG, the UK Listing Authority, Cazenove and in each of UBS and Nomura as EMEA head of compliance and managing director. This strengthens our UK based non-executive directors and our commitment to good governance and best practice regulatory compliance.
Financial Review
Revenues in the first half of 2016 totalled $158.8 million (H1 2015: $127.0 million), representing 25% growth compared to H1 2015. The growth achieved can be attributed to the growing number of Active Customers, up 12% to 104,119 in the first half (H1 2015: 93,267). The table below shows the skew of New Customers to the second quarter compared to the first quarter and the dilutive quarter on quarter impact on ARPU from the New Customer sign ups.
Qtr 30/6/16 Qtr 30/6/15 H1 2016 H1 2015
Revenues $73,614 $44,926 $158,772 $127,026
Number of New
Customers 28,137 19,337 56,929 52,217
Number of Active
Customers 70,958 54,616 104,119 93,267
ARPU $1,037 $823 $1,525 $1,362
AUAC $1,347 $1,278 $1,328 $1,033
EBITDA in the first half of 2016 was $59.1 million (H1 2015: $55.5 million), an increase of 6%, with EBITDA margins decreasing from 44% in H1 2015 to 37% in H1 2016. Net profit for the period was $44.5 million (H1 2015: $40.6 million), up 10%. The level of AUAC is a reflection of the Group's continued focus on attracting higher value customers, the success of which is evidenced by the increase in market share in, for instance, the UK.
Plus500's total assets increased from $115.6 million in H1 2015 to $117.6 million in H1 2016, an increase of 2%, with cash balances increasing to $96.2 million (H1 2015: $95.5 million) following the dividend payment of $96.6 million in H1 2016, and equity of $90 million (H1 2015: $86.1 million), representing approximately 77% of the balance sheet.
Current Trading and Outlook
Plus500 has performed strongly in the first half of 2016 and the Board looks ahead with continued confidence. Current trading in the third quarter to date has continued to be strong, benefitting from the New Customers delivering revenues and with margins bouncing back. In addition, the trend of increasing New and Active Customers is continuing. Both market volatility and marketing spend has now delivered close to the Group's initial target for New Customers for the full year as a whole; the Board intends to maintain spending at current levels to deliver the platform for growth in future years.
For the year as whole we now expect margins for 2016 to be slightly lower than 2015 due to the continuing success in winning New Customers and the associated acquisition and onboarding costs which are expensed ahead of revenue. However, this impact is expected to be partially mitigated in the second half by the benefit to revenues and profits from the greater than anticipated increase in New Customers, Active Customers and trading levels achieved to date.
Over the medium to long term, the Board expects margins will benefit from the operational gearing inherent in the Group's low cost fixed overhead business model and its ability to flex marketing expenditure.
In conclusion we have more high value customers, an enhanced trading platform, more robust processes, more routes to market and a stronger brand. Overall, our expectations are therefore unchanged - momentum is expected to continue, resulting in strong growth in 2016.
(6) Investment Trends' report, July 2015
Plus500 LTD.
CONDENSED CONSOLIDATED BALANCE SHEET
JUNE 30, 2016
As of 30 June As of 31
December
--------------------------- ---------------
2016 2015 2015
------------- ------------ ---------------
(Unaudited) (Audited)
--------------------------------------------
U.S. dollars in thousands
--------------------------------------------
Assets
CURRENT ASSETS:
Cash and cash equivalents 96,137 95,533 156,497
Short-term bank deposit 39 - 38
Restricted deposit 356 71 181
Accounts receivable 17,610 17,706 9,761
Income tax receivable - - 227
------------- ------------ ---------------
114,142 113,310 166,704
------------- ------------ ---------------
NON-CURRENT ASSETS:
Long term restricted
deposit 25 - 24
Property, plant and
equipment 2,985 1,874 1,977
Intangible assets 102 86 92
Deferred income tax
assets 329 336 173
------------- ------------ ---------------
3,441 2,296 2,266
------------- ------------ ---------------
T o t a l assets 117,583 115,606 168,970
============= ============ ===============
Liabilities and equity
CURRENT LIABILITIES:
Trade payables -
due to clients 543 2,854 1,519
Other accounts payable
and
accruals:
Service suppliers 19,765 13,419 13,391
Other 3,722 2,520 3,480
Income tax payable 2,387 10,345 7,972
Share-based compensation 610 - 372
Dividend - - 24,368
------------- ------------ ---------------
27,027 29,138 51,102
------------- ------------ ---------------
NON- CURRENT LIABILITIES:
Share- based compensation 598 396 214
------------- ------------ ---------------
EQUITY:
Ordinary shares 317 317 317
Share premium 22,220 22,220 22,220
Retained earnings 67,421 63,535 95,117
------------- ------------ ---------------
T o t a l equity 89,958 86,072 117,654
------------- ------------ ---------------
T o t a l liabilities
and equity 117,583 115,606 168,970
============= ============ ===============
Plus500 LTD.
CONDENSED CONSOLIDATED INCOME STATEMENT
FOR THE SIX-MONTH PERIODED JUNE 30, 2016
Year ended
Six months 31 December
ended 30 June
---------------------- ---------------
2016 2015 2015
---------- ---------- ---------------
(Unaudited) (Audited)
---------------------------------------
U.S. dollars in thousands
---------------------------------------
TRADING INCOME 158,772 127,026 275,651
SELLING, GENERAL AND
ADMINISTRATIVE EXPENSES:
Selling and marketing 91,488 63,655 125,413
Administrative and general 8,355 7,966 17,647
Loss on disposal of property,
plant and equipment - 109 109
---------- ---------- ---------------
INCOME FROM OPERATIONS 58,929 55,296 132,482
Financial income 815 85 178
Financial expenses 1,235 3,242 4,776
---------- ---------- ---------------
FINANCIAL EXPENSE -net 420 3,157 4,598
---------- ---------- ---------------
INCOME BEFORE TAX ON INCOME 58,509 52,139 127,884
TAXES ON INCOME 14,009 11,522 31,317
---------- ---------- ---------------
PROFIT AND COMPREHENSIVE
INCOME FOR THE PERIOD 44,500 40,617 96,567
========== ========== ===============
In U.S. dollars
--------------------
EARNINGS PER SHARE (basic
and diluted) 0.39 0.35 0.84
====== ===== =====
Plus500 LTD.
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE SIX-MONTH PERIODED JUNE 30, 2016
Ordinary Share Retained
shares premium earnings Total
---------- --------- ---------- --------
U.S. dollars in thousands
-------------------------------------------
BALANCE AT 1 JANUARY 2016
(audited) 317 22,220 95,117 117,654
CHANGES DURING THE SIX MONTHSED 30, JUNE, 2016 (unaudited):
Profit and comprehensive income
for the period - - 44,500 44,500
TRANSACTION WITH SHAREHOLDERS
Dividend - - (72,196) (72,196)
---------- --------- ---------- --------
BALANCE AT 30 JUNE 2016 (unaudited) 317 22,220 67,421 89,958
========== ========= ========== ========
BALANCE AT 1 JANUARY 2015
(audited) 317 22,220 87,923 110,460
CHANGES DURING THE SIX MONTHsED 30, JUNE 2015 (unaudited):
Profit and comprehensive income
for the period - - 40,617 40,617
TRANSACTION WITH SHAREHOLDERS
Dividend - - (65,005) (65,005)
---------- --------- ---------- --------
BALANCE AT 30 JUNE 2015 (unaudited) 317 22,220 63,535 86,072
========== ========= ========== ========
BALANCE AT 1 JANUARY 2015
(audited) 317 22,220 87,923 110,460
CHANGES DURING THE YEARED
31, DECEMBER 2015:
Profit and comprehensive income
for the year - - 96,567 96,567
TRANSACTION WITH SHAREHOLDERS
-
Dividend - - (89,373) (89,373)
---------- --------- ---------- --------
BALANCE AT 31 DECEMBER 2015
(audited) 317 22,220 95,117 117,654
========== ========= ========== ========
Plus500 LTD.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE SIX-MONTH PERIODED JUNE 30, 2016
Six months Year ended
ended
June 30 31 December
---------------------- --------------
2016 2015 2015
---------- ---------- --------------
(Unaudited) (Audited)
--------------------------------------
U.S. dollars in thousands
--------------------------------------
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash generated from operations
(see Appendix A) 56,212 47,535 128,078
Income tax paid - net (19,502) (21,467) (42,658)
Interest received 86 85 55
---------- ---------- --------------
Net cash flows provided by
operating activities 36,796 26,153 85,475
---------- ---------- --------------
CASH FLOWS FROM INVESTING ACTIVITIES:
Deposit withdrawals - 1,037 1,039
Purchase of deposits - - (38)
Increase in restricted deposits (176) - (136)
Purchase of property, plant
and equipment (1,190) (564) (819)
Proceeds from sale of property,
plant and equipment - 25 26
Purchase of intangible assets (22) (38) (54)
---------- ---------- --------------
Net cash flows provided by
(used in) investing activities (1,388) 460 18
---------- ---------- --------------
CASH FLOWS USED IN FINANCING
ACTIVITIES:
Dividend paid to equity holders
of the Company (see Note 4) (96,564) (65,005) (65,005)
---------- ---------- --------------
DECREASE IN CASH AND CASH EQUIVALENTS (61,156) (38,392) 20,488
Balance of cash and cash equivalents
at beginning of period 156,497 139,164 139,164
Gains (losses) from exchange
differences on cash and cash
equivalents 796 (5,239) (3,155)
---------- ---------- --------------
BALANCE OF CASH AND CASH EQUIVALENTS
AT OF THE PERIOD 96,137 95,533 156,497
========== ========== ==============
Plus500 LTD.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE SIX-MONTH PERIODED JUNE 30, 2016
APPICES CONSOLIDATED STATEMENT OF CASH FLOWS
APPIX A:
Six months Year ended
ended 30 June 31 December
----------------------- --------------
2016 2015 2015
---------- ----------- --------------
(Unaudited) (Audited)
---------------------------------------
U.S. dollars in thousands
---------------------------------------
Cash generated from operations
-
Net income for the period 44,500 40,617 96,567
---------- ----------- --------------
Adjustments required to reflect
the cash
flows from operating activities:
Depreciation and amortization 194 122 283
Loss on disposal of property,
plant and equipment - 109 109
Taxes on income 14,009 11,522 31,317
Interest and foreign exchange
losses (gains) on operating
activities (911) 6,022 2,927
---------- ----------- --------------
13,292 17,775 34,636
---------- ----------- --------------
Operating changes in working
capital:
Increase in accounts receivable (7,842) (13,779) (5,834)
Decrease in trade payables
due to clients (976) (3,031) (4,366)
Increase in other accounts
payable:
Service suppliers 6,374 5,588 5,560
Other 242 138 1,098
Liability for share-based
compensation 1,377 227 417
Settlement of share-based (755) - -
compensation
---------- ----------- --------------
(1,580) (10,857) (3,125)
---------- ----------- --------------
Cash flows from operating
activities 56,212 47,535 128,078
========== =========== ==============
APPIX B: non-cash transactions
On 23 November 2015 the Company declared an interim dividend in an amount of $24,368 thousands ($0.2121 per share). The dividend was paid to the shareholders on 29 February 2016.
Plus500 LTD.
NOTES TO CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
NOTE 1 - GENERAL INFORMATION
Information on activities of plus500 Ltd and its subsidiaries (hereafter- the Group):
Plus500 Ltd. (hereafter - the Company) was established in 2008 in Israel as a private limited company with the name Investsoft Ltd. On 18 June 2012 the Company changed its name to Plus500 Ltd. The Company has developed a trading platform for private clients, enabling trading on contracts for differences (hereafter - CFD) on shares, indices, commodities, ETFs, options and foreign exchange.
On 24 July 2013, the Company's shares were listed for trading on the London Stock Exchange in the Company's initial public offering ("IPO").
Plus500UK Limited (the "UK subsidiary", "Plus500UK") is a subsidiary of the Company located in London in the UK, and is regulated by the Financial Conduct Authority ("FCA") to offer CFDs.
Plus500AU Pty Ltd (the "AU subsidiary", "Plus500AU") is a subsidiary of the Company with its main office located in Sydney, Australia. Plus500AU has an Australian Securities and Investments Commission ("ASIC") license.
Plus500CY Ltd (the "CY subsidiary", "Plus500CY") is a subsidiary of the Company with its main office located in Limassol, Cyprus. Plus500CY has a Cyprus Securities and Exchange Commission ("CYSEC") license.
Plus500IL Ltd (the "IL subsidiary", "Plus500IL") is a subsidiary of the Company located in Israel with its main offices in Tel Aviv. The IL subsidiary is in process of obtaining license from the Israeli Securities Authority ("ISA") in order to offer CFDs to Israeli customers.
Plus500BG EOOD (the "BG subsidiary", "Plus500BG") is a subsidiary of the Company located in Sofia, Bulgaria. The BG subsidiary provides operational services and it is not regulated.
The Group is engaged in one operating segment - CFD trading.
The address of the Company's principal offices is Building 25, Matam, Haifa 31905, Israel.
NOTE 2 - BASIS OF PREPARATION
These condensed consolidated interim financial statements for the six months ended 30 June, 2016 have been prepared in accordance with IAS 34, 'Interim financial reporting'. The condensed consolidated interim financial statements should be read in conjunction with the annual financial statements for the year ended 31 December, 2015, which have been prepared in accordance with IFRS.
This condensed consolidated interim financial information is reviewed and not audited.
NOTE 3 - ACCOUNTING POLICIES
Significant accounting policies and computation methods used in preparing the interim financial information are consistent with those used in preparing the 2015 annual financial statements, except for the following:
Income tax in interim periods is recognized based on management's best estimate of the annual income tax rate expected.
NOTE 4 - DIVID
The amounts of dividends and the amounts of dividends per share for the years 2015 and 2016 declared and distributed by the Company's Board of Directors are as follows:
Amount of
Date of declaration dividend in
thousands
of $
---------------------- -------------
24 February 2015 65,005
23 November 2015 24,368
16 February 2016 72,196
On 16 February 2016 the Company declared an interim dividend in amount of $ 72,196 thousands ($0.6284 per share). The dividend was paid to shareholders on 11 May 2016.
The dividends paid in the six months ended 30 June 2016 and in the year ended 31 December 2015 amounted to $96,564 (along with dividend declared on 23 November 2015 in the amount of $24,368 and paid to shareholders on 29 February 2016).
NOTE 5 - EARNINGS PER SHARE
Earnings per share is calculated by dividing the profit attributable to equity holders of the company by the weighted average number of ordinary shares in issue during the year.
Six months ended 30 Year ended 31
June December
----------------------------------- -----------------------
2016 2015 2015
----------------- ---------------- -----------------------
(Unaudited) (Audited)
------------------------------------------------------------
U.S. dollars in thousands
------------------------------------------------------------
Profit attributable
to equity
holders of the Company
(In U.S dollars) 44,500,000 40,617,000 96,567,000
============ ============ ============
Weighted average number
of
ordinary shares in
issue 114,888,377 114,888,377 114,888,377
============ ============ ============
Plus500 LTD.
NOTES TO CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
NOTE 6 - TRADE PAYABLES- DUE TO CLIENTS
30 June 31 December
------------------ ------------------
2016 2015 2015
-------- -------- ------------------
(Unaudited) (Audited)
--------------------------------------
U.S. dollars in thousands
--------------------------------------
Customers deposits, net* 72,758 57,867 41,290
Segregated client funds (72,215) (55,013) (39,771)
---------- ---------- ----------
543 2,854 1,519
========== ========== ==========
* Customers deposits, net are comprised of the following:
30 June 31 December
-------------------------------------- ------------
2016 2015 2015
-------------------- ---------------- ------------
(Unaudited) (Audited)
----------------------------------------------------
U.S. dollars in thousands
----------------------------------------------------
Customers deposits 84,430 65,931 47,469
Less- financial derivative
open
positions:
Gross amount of assets (17,257) (11,175) (8,982)
Gross amount of liabilities 5,585 3,111 2,803
-------------------- ---------------- ------------
Customers deposits, net 72,758 57,867 41,290
==================== ================ ============
As of 30 June 2016, 2015 and 31 December 2015 the total amount of trade payables due to clients includes bonuses to the clients from all of the subsidiaries.
NOTE 7 - SUBSEQUENT EVENTS
In 2 September 2016 the Company declared an interim dividend in amount of $26,700 thousands ($0.2324 per share).
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR ZMGGLGDZGVZZ
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September 05, 2016 02:00 ET (06:00 GMT)
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