SHARES in London-listed fintech group Plus500 jumped yesterday after bosses hiked profit and revenue guidance for the year, on the back of a bumper set of first quarter results.

In a trading statement, Plus500 said that performance in the second quarter of the year had continued to be "very strong"and had allowed the firm to boost its outlook for 2022.

Bosses said they now expected revenue and ebitda to be "significantly ahead of current market expectations".

Shares in FTSE 250 Plus500 jumped nearly four per cent yesterday after the announcement.

The update comes on the back of a bumper set of first quarter results in which revenues and profits surged on last year, with ebitda hitting $161.6m (£131.6m), up 33 per cent on the same period in 2021.

(c) 2022 City A.M., source Newspaper