11th Nov 2015 09:41
LONDON (Alliance News) - Financial software and consultancy services company First Derivatives PLC on Wednesday said its pretax profit and revenue both surged in the first half, prompting it to increase its dividend and proclaim its confidence in hitting market expectations for the full year.
The company said its pretax profit for the half year to the end of August was GBP4.6 million, up from GBP3.7 million a year earlier, as revenue rose to GBP53.8 million from GBP37.5 million.
The strong results prompted the group to hike its interim dividend by 55% to 5.0 pence per share, from 3.3p a year earlier.
The group said its investments made in its software have started to reap benefits, with financial services markets driving its software revenue growth to 87% in the half. Consulting sales were up 28%, driven by further growth and strategic progress in the unit, and First Derivatives sees further software opportunities outside the financial services industry growing.
"The positive performance in the first half of our financial year has continued into the second half and the high visibility within both consulting and software gives the board confidence that the broup expects to meet market expectations for the full year," said Seamus Keating, First Derivatives' chairman.
Shares in First Derivatives were up 3.2% to 1,500.00p on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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