27th Apr 2009 07:00
Fidessa group plc Interim Management Statement
27th April 2009
Fidessa group plc (LSE: FDSA), a leading global provider of multi-asset trading systems, market data and global connectivity solutions, is releasing its interim management statement for the period from 1 January 2009 to date.
Despite the difficult market conditions the year has started well, with strong revenue growth and stable margins. Across both existing accounts and new business lines our products and hosted services are assisting our customers in managing their costs and this is enabling us to continue developing our business. The impact of the crisis in the financial markets continues to make itself felt and we expect to see further restructuring in the industry as capacity adjusts to reflect the new market conditions.
There have been some early signs of recovery in the market, with greater stability within our customer base compared to the turmoil during 2008, as well as some improvements in sentiment. However, it is still far too early to say if we are seeing a sustainable recovery and therefore it remains impossible to forecast the short-term outlook with any certainty. At present we continue to believe that growth is possible for 2009 as a whole, and while far from certain, if trading continues to progress positively it is likely that this growth will be towards the higher end of current market forecasts.
Commenting on Fidessa's performance over the period, Chris Aspinwall said: "We are pleased to be able to report continued strong demand for our products and services across the regions despite the market conditions. Whilst we expect the market to remain difficult and unpredictable for the rest of 2009, we believe that we can continue to grow the business and that this growth, combined with the continuing financial strength of the group, will leave us very well positioned for when the markets recover fully"
Enquiries:
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Chris Aspinwall, Chief Executive |
Edward Bridges/Hazel Stevenson |
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Andy Malpass, Finance Director |
Financial Dynamics |
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www.fidessa.com |
Tel: 020 7831 3113 |
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Tel: 01483 206300 |
Fax: 020 7831 6341 |
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Fax: 01483 206301 |
Notes for editors:
Fidessa group is a world-leading supplier of multi-asset trading, portfolio analysis, decision support, investment compliance, market data and global connectivity solutions for both the buy-side and sell-side globally. Available as a simple workstation or as an integrated application suite, the Fidessa and Fidessa LatentZero products are built on the clear vision of providing the richest functionality, coverage and distribution to the financial markets community.
The Fidessa suite is used by 85% of tier-one, global equity brokers providing sophisticated trading, market data, order management and execution capabilities to all tiers of the sell-side.
The Fidessa LatentZero suite is used by the world's largest asset management firms through to smaller specialist managers and hedge funds, and provides comprehensive portfolio analysis, real-time P&L, what-if analysis, investment compliance, 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 180 million messages a month covering DMA, Care and Algorithmic orders, Indications of Interest and FIX Allocations between over 2,200 buy-sides and 360 brokers across 115 markets worldwide.
Head-quartered in London and with offices in New York, Boston, Tokyo, Hong Kong, Paris, Toronto and San Francisco, Fidessa group serves more than 22,000 users across 630 clients globally. Fidessa group was founded in 1981, has revenues of £189m, employs 1,400 people and has been fully listed (LSE:FDSA) since 1997.
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