Revenue jumps 23pc at First Derivatives
Global analytics software firm First Derivatives has reported revenue of £186m (€212m) in the 12 months to 28 February.
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 from the company, 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 existing customer base, the company said.
The Newry-based company 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.
“Prompted by strong demand from our clients, we have continued to penetrate our markets.”
FinTech revenue increased 22pc to £142.9m, driven by growth in recurring software revenue and an expansion of services provided to clients, while Marketing Tech 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, a FTSE 100 gaming company and Aston Martin-Red Bull Racing.
Looking forwards and the company said that the new financial year has started well, with “a healthy pipeline of new business opportunities and strong demand generated by our increasing strategic importance to clients.”
First Derivatives has offices in Dublin, at its headquarters in the North and internationally.
The business, which is set to take on 500 graduates this year, is now the biggest employer of graduates on the island of Ireland, according to its chief executive and founder Brian Conlan
In December the company bought a Spanish telecom analytics firm for €2.5m.