Thursday 19 September 2019

12,000 apply for jobs at First Derivatives as sales soar

First Derivatives CEO Brian Conlon said it is on lookout for M&A
First Derivatives CEO Brian Conlon said it is on lookout for M&A
Ellie Donnelly

Ellie Donnelly

MORE than 12,000 students applied for 300 graduate roles at global analytics software firm First Derivatives.

The Newry-based company is one of the biggest graduate recruiters on the island of Ireland, according to its chief executive Brian Conlon. He said it expects to take on a total of 500 graduates this year. The roles will largely be in the company's more "labour-intensive" managed services division.

Yesterday, First Derivatives reported revenue of £186m (€212m) in the 12 months to February 28. The 23pc jump in revenue marks the 21st consecutive year of double-digit revenue growth at the company.

Adjusted earnings before interest, taxation, depreciation, and amortisation increased by 19pc year-on-year to £34.1m, according to preliminary results, while First Derivatives reported adjusted profit after tax of £19.5m, a 21pc increase year-on-year.

The performance was driven by strong growth in software revenue, up 27pc, as a result of new contract wins and continued penetration of the customer base, the company said.

First Derivatives also said that strategic progression in its managed services and consulting activities resulted in revenue growth of 17pc.

"This has been another year where we have combined organic growth with selective investment in the business to realise the enormous market opportunity available to First Derivatives," Seamus Keating, chairman of First Derivatives, said.

Fintech revenue at the company increased 22pc to £142.9m, driven by growth in recurring software revenue and an expansion of services provided to clients, while Martech revenue was up 24pc to £38.2m, which the company said was driven by growth in subscriptions for its Marketing Cloud platform, powered by its Kx technology.

During the year the company reported a number of high-profile client wins, including a Fortune 500 manufacturing company and Aston Martin-Red Bull Racing.

On the subject of possible future acquisitions, Mr Conlon said that the company, which in December bought a Spanish telecom analytics firm for €2.5m, was "always looking at other companies", but that primarily the company's growth is organic.

"Usually acquisitions are done to enter new markets or new verticals," Mr Conlon told the Irish Independent.

Irish Independent

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