Last checked at 14 Mar 2011 07:00
14 March 2011
First Derivatives plc
("First Derivatives" or the "Company")
Trading Update
First Derivatives (AIM: FDP.L, IEX: GYQ.I), a leading provider of software and consulting services to global investment banks and hedge funds, is pleased to announce that revenues and profits for the year to February 2011 are expected to be in line with current market expectations. The Company has continued to trade positively in the second half of the year with further new contracts being secured across all areas of the business. The preliminary announcement of results for the year to 28 February 2011 is expected to be announced at the end of May.
Brian Conlon, Chief Executive, said: "We are greatly encouraged by the continuing successful sales of our Delta product suite, our in-house software, for which we also have a very healthy pipeline of further sales prospects. This highlights the benefits of the major investments into SaaS infrastructure, R&D and sales and the timely acquisitions we have made in previous periods. These investments have been made without compromising our ability to generate profit and we will continue to expand our resources and capabilities with a view of delivering continuing growth for our shareholders."
For further information please contact:
First Derivatives +44 (0)28 3025 2242
Brian Conlon, Managing Director www.firstderivatives.com
Graham Ferguson, Finance Director
Charles Stanley Securities, Nominated Adviser +44 (0)20 7149 6000
Russell Cook
Carl Holmes
Goodbody Stockbrokers, EMI Adviser +353 1 667 0410
Diane Hodgson
Linda Hickey
Finbarr Griffin
Walbrook PR +44 (0)20 7933 8780
Bob Huxford bob.huxford@walbrookpr.com
Jack Rich jack.rich@walbrookpr.com
About First Derivatives
First Derivatives is a global provider of software and consulting services to the financial services industry. With almost 15 years experience working with leading financial institutions, it continues to deliver technologically advanced, award winning products and services that anticipate and respond to the evolving needs of global capital markets.
First Derivatives currently employs over 500 people worldwide and counts many of the world's top investment banks, brokers and hedge funds as its customers. It has operations in London, New York, Stockholm, Singapore, Toronto, Sydney, Dublin, Newry and Hong Kong.
For more information about the Company, please visit www.firstderivatives.com.