20th Apr 2011 07:00
Fidessa group plc Interim Management Statement
20th April 2011
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 2011 to date.
The challenges of uncertain regulation, macroeconomic environment and structural pressure remain within the financial community. However, the quality of Fidessa's products and its leading position in the market have enabled it to continue to sign significant new orders whilst also maintaining existing customers through helping them to manage their costs. These strengths have enabled Fidessa to continue to record good growth since the start of the year.
The recent tragic events in Japan led to the deployment of Fidessa's business continuity plan for its Tokyo operations. Fidessa's data centres have remained fully operational throughout and customers have been supported from interconnected offices in Osaka and Hong Kong. Whilst it is still early in the recovery process, at this point in time the events are not expected to have a material impact on the results for the year.
Overall, markets are still expected to remain difficult for 2011, but Fidessa continues to believe that the constant currency growth in 2011 is likely to be at similar levels to that seen in 2010. However, if the recent relative strength of Sterling continues it is likely to have a small adverse affect on the absolute growth rate. In the preliminary announcement it was noted that a cautious increase in development spending was starting which would result in a slight reduction in the margin in 2011. However, the recruitment market has proven to be more competitive than anticipated and to date hiring has progressed at a slower rate than expected. Therefore, the margin in the first half of 2011 is expected to be similar to that achieved in 2010. The group 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/Hazel Stevenson
Andy Malpass, Finance Director Financial Dynamics
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.
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