28th Apr 2014 07:20
LONDON (Alliance News) - Financial trading systems company Fidessa Group PLC Monday said it expects to report modest growth in constant currency terms in 2014, as the recovery in its markets is continuing.
In a statement, the company warned that the recovery remains uneven and many of its customers are still not able to make investment decisions with confidence. It also expects to book some of the customer attrition it saw in 2013, this year, due to its recurring revenue model. However, it is seeing an improvement overall.
"As expected, the improvement is gradually resulting in a reduction in the headwinds being faced, allowing the growth being generated through sales of derivative platforms, service-based platforms
and regional expansion to flow through into overall revenue growth rather than being masked by the decline in equities," the company said.
Fidessa added that it expects to return to growth rates it has seen in the past in the future, driven by the recovery in the markets and due to its own initiatives.
Fidessa shares last traded at 2,457 pence a share.
By Steve McGrath; [email protected]; @SteveMcGrath1
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