Software firm on course for record profits

DUBLIN-listed financial services technology company, First Derivatives has said that it is on course to deliver increased profits for its current fiscal year after posting a record set of first-half figures.

The Newry-headquartered firm — which specialises in software support services for investment banks and hedge fund administrators — yesterday reported a 36.4% year-on-year increase in pre-tax profits, to£3.1 million (€3.4m), for the six months to the end of August.

Operating profits were up by 21.6% on the same period last year, at £3m, while earnings per share of 15.4p, represented a 42.6% year-on-year increase.