First Derivatives upbeat

Paper losses on its dollar-denominated loans dampened profits at financial software firm First Derivatives, spoiling an otherwise sparkling full-year performance.Profit before tax in the year to 28 February eased to £4.46m from £4.72m the year before after the company was obliged by accounting rules to take a £0.92m hit to profits to take into account the change in the value of its dollar-denominated loans.Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 16% to £6.45m from £5.56m, while turnover jumped 39% to £17.55m from £12.67m despite the turmoil in financial markets, where all of its customers operate. Organic revenue growth was 36%.The order pipeline remains strong and the directors expect to be able to 'report further progress in the first half of the year.'The final dividend has been lifted from 5.8p last year to 6.65p this year., making total dividends for the year 9p.