Plus500 upgrades earnings guidance; mulls another buyback

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Online contracts-for-difference broker Plus500 upgraded its annual profit guidance for 2021 and said it would consider launching another share buyback.

The company said it had achieved a financial performance 'ahead of market expectations' for the year through December 2021.

Revenue was about $718 million, including about $160 million in the fourth quarter.

Annual earnings before interest, tax, depreciation and amortisation were expected to be around $387 million, including $71 million in the fourth quarter.

Plus500 said it had purchased $10.8 million of its own shares since announcing a $12.6 million buyback in October.

'Following the completion of this share buyback programme and the conclusion of the current closed period, a new programme will be considered by the board,' it said.