First Derivatives Delivers Strong 1st Half Revenue Growth

Tuesday, 06/11/2012 | 07:45 GMT by Ron Finberg
First Derivatives Delivers Strong 1st Half Revenue Growth

First Derivatives, a London based Technology Provider and consultant to the financial industry, recorded strong top line growth in its just announced 1st half earnings results. For the six months ended August 31, the firm posted revenues of £27.6 million, 23.3% higher than the same period last year with earnings per share of 16.7p versus 16.3p in 2011. First Derivatives attributed the revenue growth on achieving new contracts along all of its lines of businesses.

On the earnings side, bottom line figures were affected by higher expense as the firm focused on expanding its business such as through the use of new hiring’s and acquisitions. As such, earnings per share growth was limited to 2.5%.

November 2012 First Derivatives plc ("First Derivatives", the "Company" or the "Group") Interim results for the six months ended 31 August 2012 First Derivatives (AIM: FDP.L, ESM:FDP.I), a leading provider of software and consulting services to the capital markets industry, today announces its results for the six months ended 31 August 2012. Financial Highlights • Turnover £27.6m (2011: £22.4m) +23.3% • EBITDA £5.7m (2011: £5.0m) +12.8% • Operating profit £4.1m (2011: £3.6m) +14.2% • Normalised Pre-tax profit* £3.8m (2011: £3.5m) +9.8% • Earnings per share 16.7p (2011: 16.3p) +2.5% • Net Assets £33.5m (2011: £29.0m) +15.3% • Interim dividend of 3.1p per share (2011: 3.0p) +3.3% Business Highlights • New contracts and growth across all parts of the business • Significant increase in Software transactional/recurring revenue streams (+40.8%) • Increasing pipeline for Software products • Significant increase in Consulting revenue streams (+30.7%) • Strategic new consulting initiatives launched expanding client base • Four property disposals in period in line with stated strategy Post-Period HighlightsAcquisition of Redshift Horizons Ltd expanding managed services provision for data and trading systems • Acquisition of Cowrie Financial Ltd bringing deep domain expertise in delivery of Murex technology • Appointment of Gerry Buggy as Global Head of Software Sales * excluding finance translation charges David Anderson, Chairman of First Derivatives commented: “The first six months have seen continued strong growth across the Group’s activities with total revenues up over 23%. To fuel this growth we have continued to make substantial investment in the development of all the Group’s activities to ensure we have a strong organisation that can react to the market through the quality of our product and service offerings. This investment has resulted in us signing a number of contracts during the period which will start to become revenue generating in the second half and we have a healthy pipeline of prospects. Despite a background of market turbulence we expect to report profits for the year in line with market expectations.”

First Derivatives, a London based Technology Provider and consultant to the financial industry, recorded strong top line growth in its just announced 1st half earnings results. For the six months ended August 31, the firm posted revenues of £27.6 million, 23.3% higher than the same period last year with earnings per share of 16.7p versus 16.3p in 2011. First Derivatives attributed the revenue growth on achieving new contracts along all of its lines of businesses.

On the earnings side, bottom line figures were affected by higher expense as the firm focused on expanding its business such as through the use of new hiring’s and acquisitions. As such, earnings per share growth was limited to 2.5%.

November 2012 First Derivatives plc ("First Derivatives", the "Company" or the "Group") Interim results for the six months ended 31 August 2012 First Derivatives (AIM: FDP.L, ESM:FDP.I), a leading provider of software and consulting services to the capital markets industry, today announces its results for the six months ended 31 August 2012. Financial Highlights • Turnover £27.6m (2011: £22.4m) +23.3% • EBITDA £5.7m (2011: £5.0m) +12.8% • Operating profit £4.1m (2011: £3.6m) +14.2% • Normalised Pre-tax profit* £3.8m (2011: £3.5m) +9.8% • Earnings per share 16.7p (2011: 16.3p) +2.5% • Net Assets £33.5m (2011: £29.0m) +15.3% • Interim dividend of 3.1p per share (2011: 3.0p) +3.3% Business Highlights • New contracts and growth across all parts of the business • Significant increase in Software transactional/recurring revenue streams (+40.8%) • Increasing pipeline for Software products • Significant increase in Consulting revenue streams (+30.7%) • Strategic new consulting initiatives launched expanding client base • Four property disposals in period in line with stated strategy Post-Period HighlightsAcquisition of Redshift Horizons Ltd expanding managed services provision for data and trading systems • Acquisition of Cowrie Financial Ltd bringing deep domain expertise in delivery of Murex technology • Appointment of Gerry Buggy as Global Head of Software Sales * excluding finance translation charges David Anderson, Chairman of First Derivatives commented: “The first six months have seen continued strong growth across the Group’s activities with total revenues up over 23%. To fuel this growth we have continued to make substantial investment in the development of all the Group’s activities to ensure we have a strong organisation that can react to the market through the quality of our product and service offerings. This investment has resulted in us signing a number of contracts during the period which will start to become revenue generating in the second half and we have a healthy pipeline of prospects. Despite a background of market turbulence we expect to report profits for the year in line with market expectations.”
About the Author: Ron Finberg
Ron Finberg
  • 1983 Articles
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About the Author: Ron Finberg
Ron Finberg, a specialist in regulatory issues, brings clarity and depth to finance news
  • 1983 Articles
  • 8 Followers

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