Plus500UK Ltd, the UK subsidiary of Israeli fintech group Plus500, reported revenue of £11.2 million for the year ended Dec. 31, 2024, down 16% from £13.3 million in the prior year, according to accounts filed with Companies House.
The FCA-regulated contracts for difference broker saw trading turnover fall 23% to £7.8 million from £10.1 million, while interest income rose 7% to £3.4 million from £3.1 million. Despite the revenue decline, operating profit dropped 48% to £1.9 million from £3.7 million in 2023.
Profit before tax increased significantly to £2.7 million, compared with £93,000 in the prior year, driven by a £760,000 foreign exchange gain versus a £3.6 million loss in 2023. After-tax profit rose to £2 million from £205,000, though the company paid no dividends during the year.
The company’s balance sheet strengthened, with cash and cash equivalents increasing 10% to £62 million from £56.4 million. Total equity rose to £54.3 million from £52.2 million. Regulatory eligible capital stood at £54.3 million at year-end, up from £51.9 million.
Average headcount increased to 14 employees from 12, with staff costs rising 34% to £3.1 million. The company, which provides online CFD trading across more than 2,500 underlying instruments, remains debt-free and continues to operate under Plus500 Ltd’s full ownership. Client money is held under FCA CASS rules and segregated daily.
