21st Oct 2015 07:38
LONDON (Alliance News) - Fidessa Group PLC said Wednesday it expects to be able to announce a further special dividend with its full-year results in February, as it has continued to see strong cash generation in the second half of 2015.
The trading, investment management and information services provider said it has continued to see customer markets "entering a new phase of recovery as the impact from regulatory and structural changes strengthens".
Fidessa noted however, that increased competition in its customer base may result in further closures and consolidations, and whilst it expects similar levels of growth for the remainder of 2015 as it saw in its first half, this consolidation may result in a "higher level of headwind into 2016".
Fidessa said that it does not currently believe its investment in providing support for the fixed income asset class is likely to have "a material impact" on its ability to pay further special dividends in the future.
"Fidessa believes that it will continue to play an increasingly important role as customers focus on efficiency, transparency, compliance and performance, and expects that as markets stabilise it will see a return to growth rates similar to those seen in the past," the company said in a statement.
Shares in Fidessa were up 2.2% at 1,900.00 pence, one of the biggest gainers in the FTSE 250.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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