Exclusive FNG… Retail FX and CFDs broker Plus500 Ltd (LON:PLUS) is embarking on a major expansion, FNG has learned. Sources in Israel say Plus500 is set to lease an additional 5,800 square meters of office space near its current global headquarters in Haifa, Israel, while the company is actively hiring for various areas.
According to an Israeli publication Walla Online news service Plus500 recently leased 5,800 square meters of office space in Haifa’s Gav-Yam Hi-Tech Park, which will roughly double its current usable office space. Plus500 plans to expand its operations and is reportedly hiring for dozens of jobs in development and software, sales and business development, along with jobs in other areas.
Plus500 recently reported its 2023 financial results, which showed a slowdown in both revenue and earnings in the second half of the year (as per the chart above), as well as a decline in activity and profitability from 2022. However. , Plus500 is still very cash-rich and recently announced a new $100 million share buyback program.