Last checked at 
(Alliance News) - Software company First Derivatives PLC on Tuesday boosted its first half dividend following an earnings rise and said that it is confident of performing in line with consensus for the rest of the year.
In the six months to August 31, revenue grew by 11% to GBP116.7 million from GBP105.6 million with pretax profit rising by 11% to GBP8.4 million from GBP7.6 million.
On an adjusted basis, so not including acquisition costs or share-based payments, earnings before interest, depreciation, taxation and amortisation rose by 22% to GBP22.0 million from GBP18.1 million.
The firm boosted its interim dividend by 10% to 8.5 pence per share from 7.7p.
During the period, First Derivatives completed a USD53.8 million deal to take sole ownership of its subsidiary Kx Systems.
First Derivatives said: "Notwithstanding economic uncertainty, we secured a number of contract wins during the period, particularly around regulatory compliance and reporting in Europe. We have also expanded the range of third-party vendor technologies we support and developed some additional propositions that we believe will be attractive to our clients and increase our addressable market.
"As a result, irrespective of any improvement in economic conditions, we expect growth to accelerate in our traditionally stronger second half."
The company said it is confident about achieving full-year results in line with consensus forecasts, which it said anticipates financial 2020 revenue to be GBP242.9 million with an adjusted Ebitda of GBP43.8 million.
In financial 2019, it achieved revenue of GBP217.4 million and an adjusted Ebitda of GBP38.9 million.
First Derivatives added that it is progressing in its search for a new chief executive after Brian Conlon, who also founded the company in 1996, died in July after battling cancer.
First Derivatives shares were 3.6% higher at 2,280 pence each in London on Tuesday morning.
By Eric Cunha; ericcunha@alliancenews.com
Copyright 2019 Alliance News Limited. All Rights Reserved.
