(Alliance News) - First Derivatives PLC on Wednesday said its total revenue for the four months to June 30 was 6% ahead on the prior year due to a resilient performance in the face of the Covid-19 pandemic.
The Newry, Ireland-based software and consulting services company said revenue in its Software division increased by 8%, while Managed Services & Consulting business revenue was up 2% year-on-year.
"As expected there has been some deferral of new project engagements, the financial impact of which to date has been partially mitigated by lower recruitment and cost management," First Derivatives said in its annual general meeting statement.
"The board continues to believe that it is still too soon to determine the likely outcome for the full year but is encouraged by performance to date and will continue to invest to deliver against the market opportunity. The group remains strategically well placed and we are encouraged by the growing demand for Kx streaming analytics from potential customers and partners," the company added.
First Derivatives shares were down 1.2% at 2,500.00 pence on Wednesday morning in London.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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FD Technologies (FDP)