Shares in First Derivatives set to beat forecasts

Shares in Newry-based specialist technology firm First Derivatives jumped by more than 5% in London yesterday on the back of it suggesting it should “comfortably” beat market expectations with its latest set of annual results.

The company traditionally offers tailored software solutions to the likes of hedge fund adminstrators, financial traders, and investment banks but has widened its target market to non-financial sectors, like healthcare and utilities, in recent times.

In a trading update yesterday, the company said it saw “continued strong trading” in the second half of its financial year to the end of February, adding it now expects financial performance for the full year to be comfortably ahead of current consensus forecasts” of £109.5m (€137.2m) in revenue and £22.1m in earnings (ebitda).