29th Apr 2010 07:00
Fidessa group plc Interim Management Statement
29th April 2010
Fidessa group plc , 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 1st January 2010 to date.
The stability of the financial markets has continued to improve during the first quarter of 2010 and Fidessa has continued to make good progress. However, as previously stated, there are significant pressures within some areas of the markets and as a result we are still seeing some consolidation and restructuring within our customer base. Although this is at a reduced level compared to that seen during 2009, it will inevitably have some impact on our overall growth rates. However, assuming that the markets remain reasonably stable, we believe that we can deliver good growth for 2010 as a whole although, as stated in our preliminary results, we do not believe that the overall rate of growth will be as high as that seen during 2009.
Looking ahead, the macro economic situation and possibility of government regulation still add uncertainty to the financial markets. We continue to expect that 2010 will bring some more clarity around the future structure of the financial industry and we are confident that Fidessa will continue to play an important role in providing the solutions the industry needs. As a result, we expect that over the coming years we will see further significant growth opportunities and are maintaining our strategy of investment in the business as we develop these solutions across all the regions in which we operate.
The group continues to have a strong balance sheet with good cash reserves after the special dividend payment, 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 Notes for editors:
Fidessa group is a world-leading supplier of multi-asset trading, portfolio analysis, decision support, compliance, market data and connectivity solutions for firms involved in trading the world's financial markets. Fidessa's products and services are built on the simple vision of making it easier to buy, sell and own financial assets of all types on a global basis.
A dynamic, growing company with a proven track record, Fidessa is recognised as the thought leader in the marketplace, with an unrivalled set of products and services which set the benchmark for this industry and, uniquely, serve both the buy-side and sell-side communities globally.
With 28 years' experience delivering powerful, resilient, mission-critical systems, Fidessa develops all its products itself from the ground up, investing heavily in their continual evolution. The resulting leading-edge, truly integrated solutions have established Fidessa as the industry's number one choice, and are used by over 85% of tier-one, global financial institutions.
Headquartered in London and with regional operations across Europe, North America, Asia, and the Middle East, Fidessa supports over 25,000 users across 850 clients, serving a broad spectrum of customers from major investment banks and asset managers through to specialist niche brokers and hedge funds.
Fidessa group is listed on the London Stock Exchange (symbol FDSA) and is a FTSE 250 company. Fidessa has delivered approximately 30% compound growth since its 1997 listing and now employs 1,500 people globally.
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