Exclusive: Plus500 doubling its Israel office space, recruiting workers
FNG Exclusive… FNG has learned that Retail FX and CFDs broker Plus500 Ltd (LON:PLUS) is embarking on a major expansion. Sources in Israel are reporting that 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 recruiting employees for a variety of fields.
According to a report in Israel’s Walla online news service, Plus500 recently rented office space totaling 5,800 square meters in the Gav-Yam high tech park in Haifa, which would about double its current usable office space. Plus500 plans to expand its activities and is thus reportedly recruiting employees for dozens of jobs in the fields of development and software, sales and business development, alongside jobs in other fields.
Plus500 recently reported its financial results for 2023, which showed a slowing of both Revenues and Profits in the second half of the year (as per the graph 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.