February 12, 2020 / 7:28 AM / 13 days ago

Plus500 posts lower 2019 profit, says second half buoyant

(Reuters) - Online trading platform Plus500 Ltd on Wednesday reported a plunge in 2019 profits, but said trading volumes rose with market volatility in the second half.

The company, which had already warned that profits would be lower, said earnings before interest, tax, depreciation and amortization (EBITDA) fell to $192.3 million for the year ended Dec. 31 from $506 million.

Separately, Plus500 also announced a $30 million share buyback plan.

Reporting by Muvija M in Bengaluru; Editing by Arun Koyyur

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