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First Derivatives PLC - Newry, Northern Ireland-based consulting and software for finance, automotive and energy industries - Revenue for financial year to February 28 flat at GBP237.9 million from GBP237.8 million but pretax profit drops 39% to GBP11.1 million. No dividend declared for year, after 8.5p paid for 2020 financial year.
Adjusted earnings before interest, taxes, depreciation and amortisation GBP40.5 million, down 11% on the year before, and company guides to further fall in year ahead. Revenue for 2022 financial year seen between GBP255 million to GBP260 million, but adjusted Ebitda in range of GBP31 million to GBP33 million. Guidance "reflects the improved momentum across our business units, as well as the cost impact of the accelerated growth".
Explains Chair Donna Troy: "Following a detailed review by the board, informed by growing market opportunities resulting from the increasing capabilities of our technology, we have concluded that now is the time for targeted investment that will accelerate our growth and establish KX as a world-leading horizontal technology for real-time streaming analytics. We are excited to announce this acceleration of our strategy and look forward to delivering enhanced value for our customers and shareholders."
Current stock price: 2,320 pence, down 9.0% on Tuesday
Year-to-date change: down 28%
By Lucy Heming;Â lucyheming@alliancenews.com
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