Revenue up, but EBITDA hit by rising acquisition costs and lower customer-spend
Plus500, the contracts for difference financial firm targeted for acquisition by Playtech (see previous InfoPowa reports) has issued a trading update covering the six months to June 30, highlighting the following key points:
* H1-2015 revenue up from $106.2 million in the comparative period in 2014 to $127 million this year;
* New customer registrations signups are up 19,544 to 52,217 this year;
* Active customers rose by 26,035 to 93,267;
* But average revenue per customer dropped to $1,362;
* Per head average customer acquisition costs were up significantly from $745 to $1,037;
*EBITDA declined $72 million in H1-2014 to $55.8 million in the first half of this year;
Gal Haber, chief executive of Plus500 commented: "The investment which we continue to make in the Plus500 brand and infrastructure has proved its value during the recent period of disruption during which we traded profitably in each month.
"Our superior proprietary technology and continued investment in the business position us well for continued profitable trading."
Online Casino News Courtesy of Infopowa