Technology firm returns strong full-year results

NORTHERN Ireland specialist technology firm First Derivatives has reported a strong set of full-year results – for the 12 months to the end of February – and has expressed confidence for further growth in its current fiscal year.

Latest results for the Newry-based company, which specialises in software support services for investment banks and hedge fund administrators, showed a 13% increase in pre-tax profits for the year (not accounting for currency exchange rate adjustments) to £5.4 million (€6.13m) on revenues of £17.5m – up by 39% on the previous year.

Operating profit was up by 13% at £5.9m, in a period which represented the thirteenth consecutive year of growth for the business. The company also said that it will pay shareholders a final dividend of 6.65p – a 15% increase on the previous year’s final dividend and one which brings the total dividend for the year just gone, to 9p per share.