3rd May 2005 07:00
First Derivatives PLC03 May 2005 3rd May 2005 First Derivatives PLC("First Derivatives" or "the Company") Trading update and new contract with Kx Systems The Company announces that the results for the year ended 28th February 2005 areexpected to be in line with Corporate Synergy's PBT forecast of £1.1m (preamortisation). The start of the 2005 financial year has been extremely positive and the Companyannounces the signing of a new, extended partner agreement with Kx Systems, theglobal leader in high-performance databases and time-series analysis technology.In the same period the previously loss making e-commerce division has moved intoprofitability. Under the enhanced agreement with Kx, FDP will increase sales and technicalheadcount in the Kx New York sales office, which has been staffed by FDPconsultants since 2002. In addition FDP will continue to provide worldwide salessupport for Kx products in all industry sectors excluding insurance. The new contract comes on the back of a very successful period for both FDP andKx. The past six months have seen FDP sign consulting and support agreementswith increasing numbers of Kx customers (a number of which are renewable on arolling basis) with total value well in excess of £1 million. The customers,which include some of the world's largest investment banks, are mainly based inNYC, London and Tokyo. Brian Conlon, Managing Director of First Derivatives, commented: "The upturn inthe second half of last year has continued into the current financial year, ourrelationship with KX Systems remains strong with many of our existing clientschoosing to remain with us. Low overheads coupled with high quality of staffand service has ensured that we continue to grow organically. I remain positiveabout the forthcoming preliminary results and look forward to another profitableyear." FDP expects to announce its preliminary results for the year to 28 February 2005on Friday 20th May 2005. -ends- For further information, please contact: Brian Conlon Luke Ahern Justine Howarth / Victoria ThomasFirst Derivatives Corporate Synergy Parkgreen CommunicationsTel: 07960 978078 Tel: 020 7645 5440 Tel: 020 7493 3713 www.firstderivatives.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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