Profits lift for Newry company

FIRST Derivatives – the Newry-based specialist technology company – has reported a 27% rise in full-year pre-tax profits, to £5.64 million (€6.56m).

The AIM and ISEQ ESM-listed company, which provides software support services to investment banks and hedge fund administrators, saw its turnover – for the 12 months to the end of February – jump by 45% to £25.48m and earnings per share grow by 16% to 25.8p.

EBITDA (earnings before interest, tax, depreciation and amortisation) grew by 12% over the previous year to £7.25m and the value of net assets grew by 45% to just over £16.3m.