First Derivatives PLC Trading Update (9656T)
April 04 2016 - 2:00AM
UK Regulatory
TIDMFDP
RNS Number : 9656T
First Derivatives PLC
04 April 2016
4 April 2016
First Derivatives plc
("FD" or the "Group")
Trading Update
FD (AIM: FDP.L, ESM: FDP.I), a leading provider of software and
consulting services, announces continued strong trading in the
second half of its financial year to 29 February 2016. As a result
the Board now expects the financial performance for the full year
to be comfortably ahead of current consensus forecasts of GBP109.5m
of revenue and GBP22.1m of EBITDA.
Consulting
Consulting revenue continued to grow strongly in the second half
driven by the Group's high level of contracted revenue and a number
of important new customer wins. This included a number of projects
where FD is to act as a strategic partner to assist major
investment banks with change programmes. This is in line with our
business model under which we seek to grow these initial wins into
multi-year assignments.
Software
We continue to see strong demand in our traditional financial
services market across our range of software products, signing a
record number of contracts in the second half of our financial
year. Due to the annual recurring nature of our software license
contracts the full impact of these wins will be reflected in the
financial year ended February 2017. Outside financial services, the
Group continues to make good progress with potential customers and
partners for its Kx technology products especially for digital
marketing and sensor analytics applications.
Brian Conlon, Chief Executive Officer of FD, commented: "We have
made strong progress over the course of the past year and are well
placed to continue to do so. In consulting our increasing scale and
breadth of expertise is enabling us to get involved earlier in the
change lifecycle within our clients, leading to deeper and more
strategic relationships. In software, our market-leading capability
in analysing large volumes of data in real time is increasingly
understood and as a result we have experienced an acceleration of
contract wins during the past year. We look forward to updating
shareholders further when we announce our full year results."
Enquiries
For further information please contact:
First Derivatives plc +44(0)28 3025 2242
Brian Conlon, Chief Executive www.firstderivatives.com
Officer
Graham Ferguson, Chief Financial
Officer
Ian Mitchell, Head of Investor
Relations
Investec Bank plc (Nominated
Adviser and Broker)
Dominic Emery
Carlton Nelson
Sebastian Lawrence +44 (0)20 7597 4000
Goodbody (ESM Adviser and
Broker)
Linda Hickey
Finbarr Griffin +353 1 667 0420
Walbrook PR
Paul Cornelius / Nick Rome
/ Helen Cresswell / Sam Allen +44 (0)20 7933 8780
About FD
FD is a global technology provider with 20 years of experience.
The Group's Kx technology is used by some of the world's largest
finance, technology and energy institutions. FD employs over 1,500
people worldwide and has operations in London, New York, Stockholm,
Singapore, Hong Kong, Tokyo, Sydney, Palo Alto, Toronto,
Philadelphia, Dublin, Belfast and its headquarters in Newry.
For further information, please visit
www.firstderivatives.com
This information is provided by RNS
The company news service from the London Stock Exchange
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