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LONDON (Alliance News) - First Derivatives PLC said Tuesday annual revenue increased 23%, driven by software revenue growth of 27% and good FinTech and MarTech performance.
For the financial year to the end of February, the technology provider reported revenue of GBP186.0 million, up 23% on financial 2017 revenue of GBP151.7 million.
"Our software revenue grew by 27% with the highlight being our continued progress in penetrating our vast addressable market," the company said.
The FinTech and MarTech markets grew respectively 22% to GBP142.9 million and 24% to GBP38.2 million year-on-year.
"In other markets we remain in 'launch mode' with revenue growth of 41% representing a scratch on the surface of the market opportunity," the company said.
Adjusted earnings before interest, tax, depreciation and amortisation grew 19% to GBP34.1 million from GBP28.8 million the prior year.
Pretax profit declined 3.2% to GBP12.1 million from GBP12.5 million.
Reporting a positive start to the current financial year, First Derivatives lifted its full-year dividend 20% to 24.00 pence from 20.00p in 2017.
Shares were trading down 2.3% at 4,171.50p.
