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(Alliance News) - Shares in FD Technologies PLC on Wednesday rose after the company said it expects to meet full-year adjusted earnings and revenue guidance.
Shares were up 8.8% at 2,387.50 pence each on Wednesday morning in London.
FD Technologies is Newry, County Down-based financial markets technology, formerly known as First Derivatives.
FD Technologies previously guided for revenue between GBP255 million to GBP260 million for the financial year ended February 28, up as much as 9.3% from GBP237.9 million delivered in financial 2021.
Adjusted Ebitda was forecast to be in the region of GBP31 million to GBP33 million. This would reflect a 23% to 31% decrease from GBP40.5 million.
FD Technologies said that the delivery of its accelerated growth strategy remains on track. This is anticipated to enable its KX division to achieve its target of 25% growth in exit annual recurring revenue, driven by increasing take-up of the KX Insights platform.
The company stated that this coupled with its new partnership with Microsoft Corp means it has entered financial 2023 in a good position.
"I am pleased with our financial performance and the execution of our accelerated growth strategy in what was a year of transformation for the Group. I'm excited by the opportunities across our business as we win new customers and continue to develop our offering to drive value, performance and returns," Chief Executive Seamus Keating commented.
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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