First Derivatives PLC - Newry, Northern Ireland-based consulting and software for finance, automotive and energy industries - Says traded in line with market expectations in year ended February 28. Expects to report revenue of GBP238 million versus GBP237.8 million the year before and adjusted earnings before interest, taxes, depreciation and amortization of GBP40 million versus GBP45.5 million the year before.
"Net debt at the period end was GBP10 million, which is better than analyst forecasts and significantly reduced from the group's net debt of GBP49 million a year ago. The improvement in net debt is primarily driven by strong operating cash conversion, supplemented by the partial sale of our investment in Quantile Technologies for cash consideration of GBP11 million," company adds.
Current stock price: 2,842.00 pence
Year-to-date change: down 11%
By Paul McGowan; paulmcgowan@alliancenews.com
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FD Technologies (FDP)