Tuesday 05 November 2019

First Derivatives delivers impressive growth

FDNorthern Ireland based financial services technology provider, First Derivatives, has published a strong set of interim results, highlighting encouraging revenue growth and increased profits. In the six months to 31 August, the data analytics specialist saw its global revenues increase by 11% to £117m whilst gross profit was up by 9% to £48m.

First Derivatives' financial services software operations delivered strong performance during the first six months of the year, with revenue up by 11% to £45m and revenue from recurring licences up by 18% to £16m. Growth was driven by a healthy demand across the company’s suite of regulatory and risk reporting, market surveillance and trading analytics offerings.  

In May, First Derivatives was hit by the tragic loss of its charismatic founder and CEO Brian Conlon, aged just 53 (see: First Derivatives CEO Conlon passes away). Since founding the company in Newry in 1996, Conlon, previously a talented Gaelic footballer, had helped it grow into a leading player in its field that today employs 2,400 people worldwide.

The latest results highlight the appeal of First Derivatives high-performance analytics offerings, including its flagship Kx database. The company has also recently secured a number of major new multi-year contracts, which should help to underpin future growth. Armed with a strong pipeline, First Derivatives appears well positioned to further build on Brian Conlon’s impressive legacy.

Posted by: Jon C Davies

Tags: results  

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