First Derivatives sees profits rise 15%

NEWRY-BASED specialist technology firm First Derivatives has forecast continued growth in its current year, after seeing profits rise by just over 15% last year.

The company, which provides software support services to investment banks and hedge fund administrators, saw its pre-tax profits rise from £5.64m (€6.52m) to £6.5m (€7.52m) in the 12 months to the end of February.

Revenue rose by 44.2% to £36.7m, with earnings before interest, tax, depreciation and amortisation rising by over 18% to £8.6m and earnings per share up by 12.4% to 29p.