Playtech reports robust H1 2015 results for its financial division

And although the deals with Plus500 and AvaTrade have yet to be completed and their results to have an impact on the overall performance of Playtech, data reveals the stats for TradeFX (Markets Limited).

Recently acquired TradeFX (Markets Limited) generated revenues of USD 48.2M in the first half of 2015, up 60% from the equivalent period a year earlier.

Amid the important developments that the retail Forex industry has so far seen this year, we can definitely mention the expansion of Teddy Sagi’s Playtech in the online trading space via the completed acquisition of TradeFX (now known as Markets Limited), and the proposed acquisitions of Plus500 Ltd and AvaTrade.

Playtech completed the acquisition of Markets Limited on May 7, 2015 and accordingly has consolidated the financial performance in May and June into Group results.

Playtech's CEO said to consider additional M&A opportunities and remarked that the company "can afford to do larger acquisitions".

During the full six months to June 30, 2015, Markets Limited generated revenues of $48.2 million, up 60% from the equivalent period in 2014.

The strong growth in revenues was achieved despite revenues being 5% lower in May and June, against a year earlier, due to weak market volatility.

Markets Limited KPIs were strong in the half with the number of active CFD customers up 34% and first time depositors up 39%.

Playtech agreed to pay €208 million in cash plus payments totaling up to €250 million, based on future performance, to acquire a stake of 91.1% in TradeFX Limited in April 2015.