12th May 2008 06:00
12 May 2008 Fidessa Group plc Interim Management Statement Fidessa group plc (LSE: FDSA), a leading global provider of multi-asset tradingsystems, market data and global connectivity solutions, is releasing its interimmanagement statement for the period from 1 January 2008 to date. The year has started well with strong revenue growth and stable margins. Goodprogress has been made across all regions and product lines and the indicationsare that the structural changes in the market, which occurred in 2007, areresulting in increased fragmentation of liquidity which is driving demand forour product set. The strong demand means that we expect that results for theyear are likely to be around the upper end of market expectations. At this stage, we are seeing no measurable change in buying cycles as a resultof the credit problems currently affecting the global financial markets. We haveseen some acceleration of M&A and restructuring activity within our customerbase, such as JP Morgan's proposed acquisition of Bear Stearns, but the breadthand depth of our client relationships lead us to believe that, at present, thiswill have minimal impact on our revenues in the foreseeable future. In addition,the underlying strength of our business, with high levels of recurring revenue,strong cash generation and no debt, leaves us well positioned to meet anychallenge should the situation in the financial markets worsen over the comingmonths. Commenting on Fidessa's performance over the period, Chris Aspinwall said: "Weare pleased to be able to report continued strong demand for our products andservices across the regions and believe that this is likely to be reflected inresults around the upper end of market expectations for 2008 as a whole" Enquiries:Chris Aspinwall, Chief Executive Edward Bridges/Hazel StevensonAndy Malpass, Finance Director Financial Dynamicswww.fidessa.com Tel: 020 7831 3113Tel: 01483 206300 Fax: 020 7831 6341Fax: 01483 206301 Notes for editors: Fidessa group is a world-leading supplier of multi-asset trading, portfolioanalysis, decision support, investment compliance, market data and globalconnectivity solutions for both the buy-side and sell-side globally. Availableas a simple workstation or as an integrated application suite, the Fidessa andFidessa LatentZero products are built on the clear vision of providing therichest functionality, coverage and distribution to the financial marketscommunity. The Fidessa suite is used by 85% of tier-one, global equity brokers providingsophisticated trading, market data, order management and execution capabilitiesto all tiers of the sell-side.The Fidessa LatentZero suite is used by the world's largest asset managementfirms through to smaller specialist managers and hedge funds, and providescomprehensive portfolio analysis, real-time P&L, what-if analysis, investmentcompliance, order and execution management, and post trade processing tools,across all asset classes, to all tiers of the buy-side. Fidessa's global network carries over 95 million messages a month covering DMA,Care and Algorithmic orders, Indications of Interest and FIX Allocations betweenaround 1,500 buy-sides and 255 brokers across 92 exchanges worldwide. Head-quartered in London and with offices in New York, Boston, Tokyo, Hong Kong,Paris, Toronto and San Francisco, Fidessa group serves around 22,000 usersacross 520 clients globally. Fidessa group was founded in 1981, has revenues of$270m, employs over 1,100 people and has been fully listed (LSE:FDSA) sinceRelated Shares:
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