30th Apr 2012 07:00
Fidessa group plc Interim Management Statement
30th April 2012
Fidessa group plc , provider of high-performance trading, investment management and information solutions for the world's financial community, is releasing its interim management statement for the period from 1st January 2012 to date.
Despite the challenging conditions that have persisted within the financial markets, Fidessa has continued to deliver growth during the first quarter of 2012. Progress has been made across the regions, particularly with larger customers as they seek strategic partners with scale, vision and resource to support their broadening needs. Within Fidessa's smaller customers pressure has continued and Fidessa expects that more of these firms will consolidate or leave the market during the year.
Given the stress that is still apparent within the financial markets, Fidessa continues to believe that conditions will remain difficult for some time to come. However, Fidessa expects there will still be good opportunities for growth, particularly through extending its derivatives presence and leveraging the Fidessa infrastructure to deliver greater value to its larger customers. In order to develop these opportunities Fidessa has been increasing development spend, both in terms of actual product development and also in terms of investment in the infrastructure and expertise required to support these opportunities. As stated in the preliminary results in February 2012, as a result of this investment and the ongoing market conditions, Fidessa believes that whilst it can continue to deliver growth in 2012, this growth is likely to be at levels which are lower than those seen in 2011.
Fidessa continues to have a strong balance sheet with strong reserves, no debt, strong cash generation and substantial levels of recurring revenue.
Enquiries:
Chris Aspinwall, Chief Executive Edward Bridges/Rebecca Flower
Andy Malpass, Finance Director FTI Consulting
www.fidessa.com Tel: 020 7831 3113 Tel: 01483 206300 Fax: 020 7831 6341 Fax: 01483 206301 About Fidessa group
Exceptional trading, investment and information solutions for the world's financial community.
New technology, new regulation, new challenges: making money in today's financial markets is all about staying ahead of the curve. Having the capability to spot new trends and act fast turns change into opportunity. That's why 85% of the world's premier financial institutions trust Fidessa to provide them with their multi-asset trading and investment infrastructure, their market data and analysis, and their decision making and workflow technology. It's also why $10 trillion worth of transactions flow across our global network each year. Because we're the market leader, we can also offer unique access to the world's largest and most valuable trading community of buy-side and sell-side professionals, from global institutions and investment banks to boutique brokers and niche hedge funds.
Fidessa is a global business with scale, resilience, ambition and expertise. We've delivered around 30% compound growth since our stock market listing in 1997 and we're recognised as the thought leader in our space. We set the benchmark with our unrivalled set of mission-critical products and services and, uniquely, serve both the buy-side and sell-side communities. Ongoing investment in our leading-edge, integrated solutions ensures Fidessa remains the industry's number one choice.
PINXRelated Shares:
Fidessa Group