Profits and revenue up at First Derivatives

SPECIALIST Irish technology firm First Derivatives has said that it has made a strong start to the second half of its financial year; building on a good first six months.

The Newry-headquartered company, which specialises in the provision of software support services to the investment bank and hedge fund administration sectors, yesterday reported a 5.1% year-on-year increase in pre-tax profits for the six months to the end of August, to £3.4 million (€3.9m).

Operating profit increased by over 14% to £3.6m, while earnings per share for the period were up by 4.5%, year-on-year. First half turnover amounted to £22.4m — 26.2% more than for the corresponding period last year.