22nd Oct 2012 07:00
Fidessa group plc Interim Management Statement
22nd October 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 July 2012 to date.
The challenges in the financial markets have gone on longer than most observers were expecting with third quarter equity market volumes dropping further. This has resulted in Fidessa's customers becoming yet more cost constrained and it seems unlikely that there will be significant improvement in the short-term. Fidessa will continue to develop opportunities, execute its growth strategy and push further into the multi-asset arena, but the on-going pressure within the markets means that full year 2012 revenue is likely to be flat on that delivered in 2011.
Within the derivatives markets, Fidessa has continued to develop opportunities and expects to announce further derivative deals in the fourth quarter. As highlighted in the interim results announcement in July, in order to address these derivative opportunities Fidessa is increasing its development spend, both in terms of actual product development and also in terms of investment in the infrastructure and expertise required to support it. As a result of this investment and the on-going market conditions, Fidessa believes that margin is likely to be slightly below that seen in recent years.
In the short-term, the impact of continued adverse conditions in the equity markets is likely to offset the strong growth Fidessa is achieving from its solutions to the derivatives markets. Looking further ahead, Fidessa believes that stability and opportunity will return to the markets and that reduced headwinds, coupled with further openings as its multi-asset initiative gains momentum, will enable it to return to growth levels closer to those seen in the past. Fidessa will maintain its strategy of investment in the business to make sure that it brings the right solutions and services to its customers across all the regions in which it operates.
Fidessa continues to have a strong balance sheet with strong reserves, no debt, good 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: +44 (0) 20 7831 3113 Tel: +44 (0) 20 7105 1000 Email: [email protected] 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