Online trading platform Plus500 announced an additional share buyback programme on Tuesday as it posted a decline in full-year profit and revenue but hailed a positive start to the new year.
In the year to the end of December 2021, revenue declined 18% from the previous year to $718.7m, while earnings before interest, taxes, depreciation and amortisation were down 25% to $387.1m. On a two-year basis, however, EBITDA was up 101% and revenue 103% higher.
The number of new customers fell 33% to 196, 336 and active customer numbers declined 6% to 407, 374.
Plus500 declared a final dividend of 37.77 cents a share and a special dividend of 22.18 cents, and announced a new share buyback programme of $55m.
Chief executive officer David Zruia said: “Plus500 delivered another excellent operational and financial performance in 2021 and we made significant progress with our strategic roadmap to develop our position as a leading global multi-asset fintech group.
“With the group having further strengthened its strategic position during 2021, and with a positive start to the new financial year, the board continues to expect that Plus500 will deliver sustainable growth over the medium to long term.”
