Business Irish

Wednesday 26 June 2019

First Derivatives shares up on results

 

First Derivatives provides software, consulting and data analytics products and services, initially to the investment banking sector but increasingly to non-financial sectors. Stock image
First Derivatives provides software, consulting and data analytics products and services, initially to the investment banking sector but increasingly to non-financial sectors. Stock image
Ellie Donnelly

Ellie Donnelly

Shares in global analytics software business First Derivatives were up more than 3pc in London yesterday after the group reported growth across all lines of business.

Revenue jumped 17pc to £217.4m (€248m) in the 12 months to February 28.

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Meanwhile, the group's adjusted profit after tax also increased by 17pc to £22.9m (€26m), according to annual results from the group.

The performance was driven by strong growth in its software licence revenue, which increased by 28pc year-on-year. "We see little in the FY19 outcome to dissuade us from the growth potential to be derived from the apparent opportunities both within its traditional financial services franchise and via extension into new verticals," said Goodbody analyst Gerry Hennigan.

First Derivatives provides software, consulting and data analytics products and services, initially to the investment banking sector but increasingly to non-financial sectors.

Irish Independent

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