First Derivatives says FY results to meet market expectations


First Derivatives plc (LON:FDP), a provider of investment and derivatives technology, has earlier today published an update regarding its performance during the first half of the current fiscal year and struck an upbeat note regarding its results for the full year.

The company said that trading in the first half of its financial year has been strong, with both revenue and EBITDA markedly ahead of the prior year. As a result, the Group’s full year performance is expected to be in tune with current market forecasts.

Interim results will be published on November 11, 2015.

We are curious to see whether the company will manage to replicate the robust metrics it posted for the fiscal year to end-February 2015, when revenues amounted to £83.2 million, staging a rise of 19% year-on-year.

Another important announcement was also made by First Derivatives today. The Group said it had received $6.5m (£4.2m) net of tax in respect of a shareholding in 1010data, following that company’s acquisition by Advance/Newhouse in August 2015. The Group’s shareholding arose from a license agreement for kdb which is used in 1010data’s software platform. The proceeds affect the fair value of the acquisition of Kx within the balance sheet.

Brian Conlon, Chief Executive Officer of FD, commented:

“Following the acquisition of Kx Systems in October 2014 the Group has continued to work towards maximising the opportunities this transformational deal has provided. As well as strengthening our position within capital markets we are making good progress in new markets and 1010data’s use of kdb highlights the potential in sectors such as manufacturing and telecoms. We remain focused on delivering strong, profitable growth while investing in FD’s future.”

To view the official filing with the LSE, click here.

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First Derivatives says FY results to meet market expectations

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