Forex Broker Plus500 Reports Impressive Net Income of $165 million for first six months of the year Broker repurchased $25 million worth of its shares in the past two quarters. Plus500 puts aside $12.5mn for Share Buyback It’s been a rosy first half of 2021 for London-listed forex broker Plus500 (LON:PLUS). According to its interim financials which revealed its business performance for the second quarter of 2021 and their consolidation into the half-yearly results, the forex broker’s net income came in at $165mn for the period. Although the total revenue and income for Plus500 are on the decline from the impressive peak that was reached last year, these are still significantly higher than pre-pandemic levels. According to the latest Companies House filing, Plus500 ended the second quarter with an EBITDA of $65 million. When one compares H1 of FY21 with the same period in 2020, this year’s figure was $187.6 million whilst in 2020 it was a whopping $361.8 million. That is almost 50% less this year whilst in H2 2020 EBITDA came in at $154.1 million. If you haven’t started trading forex yet, take a look at this Trading Forex For Beginner’s Guide EBITDA And Net Profits Remain Strong For Forex Broker Plus500 Get FREE Forex Signals Now! Plus500 continued achieving a strong EBITDA margin for H1 2021. This came in at 54% which was a 4% improvement over the 50% from the previous half year (H2 2020). When one analyses the Q2 EBITDA margin, this came in at 46% which is however down from the 53% reported in the same quarter of 2020. The London listed forex broker also registered a good profit of $165 million for the first six months of 2021. This was however considerably down from the $320 million for H1 and $180 million for H2 2020. Plus500 had already revealed that the revenue for Q2 came in at $143 million. Again, this was down from Q2 2020’s revenue figure of $247.6 million. However, one must take into account that trading activity peaked for the forex broker in the first half of 2020. Plus500 registered $94 million in the first quarter of 2019 before the Covid19 pandemic sprang upon the world. If you are interested in trading forex, have a look at these Top Forex Brokers. New Share Buyback Programme Proves Successful For Plus500 The forex broker also ran a multiple share buyback programme over several of the previous quarters. Under the latest repurchase programme which the company announced in Q1 of 2021, $25 million worth of ordinary shares were bought back from the open market. The broker has now allocated another $12.5 million to repurchase shares and reduce market float. The buyback programme will run until end of February 2022 or earlier if the quota is reached. “The purpose of the programme is to reduce the share capital of the Company, and all ordinary shares repurchased by the Company under the above programme shall be classified as shares held in treasury (dormant shares),” the broker stated in notes to the financial statements. Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Gerald Fenech Gerald Fenech Freelance journalist and writer with over ten years experience in forex and fintech writing. Specializes in crypto and blockchain View All Post By Gerald Fenech Expert score 5 Etoro - Best For Beginner & Experts0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 5 Read Review Open My Free Account Your capital is at risk. Forex Industry share Read Next Bitcoin Price Prediction: BTC Consolidates Before the Push to 50K? Nancy Lubale 2 months Forex Broker Plus500 Reports Impressive Net Income of $165 million for first six months of the year Broker repurchased $25 million worth of its shares in the past two quarters. Plus500 puts aside $12.5mn for Share Buyback It's been a rosy first half of 2021 for London-listed forex broker Plus500 (LON:PLUS). According to its interim financials which revealed its business performance for the second quarter of 2021 and their consolidation into the half-yearly results, the forex broker’s net income came in at $165mn for the period. 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