Revenue jumps at First Derivatives
Global analytics software business First Derivatives saw its revenue jump 17pc last year to £217.4m (€248m).
Adjusted profit after tax also increased by 17pc year-on-year to £22.9m (€26m), according to annual results from the group.
The performance was driven by strong growth in its software license revenue, which increased by 28pc year-on-year in the 12 months to 28 February 2019.
Seamus Keating, chairman of First Derivatives, said: "We have delivered another year of strong growth while investing to scale our business and secure growth in new markets.
“As we look ahead, we are excited by the growing pipeline of opportunity across our business and are confident of achieving another year of strong organic growth," he added.
Established in 1996, the group provides software, consulting and data analytics products and services, initially to the investment banking sector but increasingly to non-financial sectors.
Revenue from its FinTech arm was up 17pc last year to £166.7m (€190m), driven by an expansion of services provided to clients and new contract wins including the Canadian Securities Administrators, BitMEX and a major Japanese bank.
Meanwhile, its MarTech division recorded an 8pc increase in revenue of £41.4m (€47m), driven by 25pc growth in subscriptions for its Marketing Cloud platform, powered by Kx technology.
Elsewhere, and revenue from other markets increased by 85pc to £9.3m (€10.6m).
First Derivatives operates from 14 offices across Europe, North America and Asia Pacific, including its headquarters in Newry, and employs more than 2,600 people worldwide.
Last week the group announced that its CEO, Brian Conlon (53), has been diagnosed with cancer. Mr Conlon will remain in the CEO role during his ongoing treatment.