LONDON (ShareCast) - (Sharecast News) - Online trading platform Plus500 said on Tuesday full-year revenue is set to be ahead of the board's expectations as it announced the departure of its co-founder and former chief executive officer Gal Haber.
In an update for the year to the end of December 2020, the company said revenue was expected to be around $872m, up from guidance of around $829.2m at the end of October.

Meanwhile, earnings before interest, tax, depreciation and amortisation are set to come in at around $515m, broadly in line with the $520.5m it said it was expecting in October.

Softcat said it delivered a "record" performance in FY 2020 and that driving customer income remains its core focus, with record levels achieved during the year of around $997m.

A record number of active customers used the platform, with a much reduced rate of customer churn from the prior year, it said.

Plus500 also said that Gal Haber plans to step down from his executive position as a managing director and from his position as a director of the board, with immediate effect.

Chief executive officer David Zruia said: "In the context of an unprecedented and uncertain market environment, 2020 was an outstanding year for Plus500, during which we delivered a record financial and operational performance. The positive momentum built up during 2020 was driven by the strength and differentiation of our proprietary technology.

"This was supported by the expertise of our people, who ensured that our customers received a consistently high quality service during the year, and we are extremely grateful to our people for their continued hard work and commitment."

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