Fantastic latest figures from our member, First Derivatives who have announced that pre-tax profits are up 12% to £8.4m with overall revenue up by 11% to £116.7m for the first half of the financial year, boosted by a strong performance in financial technology software.
The technology company, headquartered in Newry, employs 2,400 people worldwide across 15 offices and provides software and services to investment banks and other financial institutions.
The company has also diversified into markets such as marketing technology, gaming and the automotive industry and added that there was “good momentum” across the business as it moved into the second half of the financial year.
Seamus Keating, Executive Chairman of First Derivatives commented:
“We successfully executed on our strategy during the period, signing a number of key contracts across our business and making strong progress towards securing landmark contracts in we are targeting across Industry.
“We continue to progress our search for a new CEO following the passing in July of our founder, Brian Conlon and we will provide an update when the process is complete.”
“Our financial performance was solid, and we are encouraged by the growing momentum through the period that provides confidence in achieving another year of strong growth, in line with consensus forecasts*.”
*The Group believes consensus revenue and adjusted EBITDA (excluding the impact of IFRS 16) forecasts for the year to 29 February 2020 to be £242.9m and £43.8m respectively.