First Derivatives sees profits rise to £6.9m

Pre-tax profit at capital markets service provider First Derivatives increased by 7% to £6.9m (€8.6m) for the 12 months ending Feb 29.

Revenues at the Newry-based company hit £46m — up 25% year-on-year — and company chairman David Anderson said First Derivatives continues to have a strong pipeline of prospects, has made a strong start to the current year and expects to be able to report further progress in the year to Feb 28, 2013.

Goodbody Stockbrokers analyst Gavin Kelleher said the results highlighted the continued strong growth the group is delivering.