First Derivatives posts 10% pre-tax profit rise

Northern Ireland software firm First Derivatives posted a 10% increase in pre-tax profits for the six months to the end of August.

Pre-tax for the March-August period was £3.8m (€4.7m) against £3.5m for the corresponding six months in 2011. Turnover was up 23.3% to £27.6m. Operating profit increased by 14.2% to £4.1m.

“The first six months have seen continued strong growth across the group’s activities with total revenues up over 23%. To fuel this growth we have continued to make substantial investment in the development of all the group’s activities to ensure we have a strong organisation that can react to the market through the quality of our product and service offerings,” said First Derivatives’ chairman David Anderson.