20th May 2014 10:39
LONDON (Alliance News) - First Derivatives PLC Tuesday said its pretax profit rose by more than a quarter due to growth in software sales and consulting revenues.
In a statement, First Derivatives, which sells software to financial institutions such as banks, hedge funds and brokers, said it made a GBP7.9 million pretax profit in the year ended February 28, compared with GBP6.2 million a year earlier. Revenue increased by 24% to GBP69.9 million, driven by growth in software sales and consulting revenues, while administrative expenses expanded to GBP12.9 million from GBP12.0 million.
The year was marked by an expansion in First Derivatives' sales capacity as it established a regional hub in Singapore and satellite offices in Hong Kong and Japan.
"The current fiscal year is set to be a pivotal year for the group as we gain traction in the target markets for our software. We have a strong business in consulting with an expansive capability and have confidence in our ability to grow this as we have done in previous years," Chairman Seamus Keating said in a statement.
"The pipeline across the business is strong, and as the year progresses we expect to demonstrate progress in the areas we are addressing. We have invested to ensure the group is in a strong position to capture market share in software and consulting and consequently expect to report further progress in the year to February 28 2015," Keating added.
First Derivatives increased its full-year dividend by 6% to 12.2 pence.
First Derivatives shares were Tuesday quoted at 1,018.83 pence, down 4.8%.
Separately, First Derivatives said Yieldbroker Pty Ltd, an electronic marketplace designed for institutional investors and banking participants trading in Australian and New Zealand debt securities and derivatives, has chosen its Delta Surveillance software for its surveillance requirements.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
FD Technologies