Financial Highlights

· Turnover £69.9m (2013: £56.5m) +24%

· Pre-tax profit £7.9m (2013: £6.2m) +29%

· EBITDA(1) £12.2m (2013: £10.2m) +19%

· Normalised EBITDA(2) £12.5m (2013: £11.6 million) +8%

· Basic EPS 34.4p (2013: 30.2p) +14%

· Final dividend of 9.0p per share (2014: 8.4p) +7%, giving a full year dividend of 12.2p +6%

· Net Debt £11.2m (2013: £22.2m)


Business Highlights

· 29% increase in total software revenue and 11% increase in recurring licence revenue

· 22% increase in total consulting revenues with increase scale leading to larger opportunities

· Significant expansion in sales capacity with regional hub established in Singapore and satellite offices in Hong Kong and Japan

· Further surveillance contract win with Yieldbroker following successful delivery of ASIC project

· Collaboration with Pivotal and NYSET strongly positions the Group to capitalise on further Big Data opportunities

· Established Asian Foreign Exchange ecosystem backed by one of Japan's largest banks


Seamus Keating, Chairman of First Derivatives commented: "The 2013/14 year has seen strong growth across the Group's activities with total revenues up over 23.8%. The current fiscal year is set to be a pivotal year for the Group as we gain traction in the target markets for our software. We have a strong business in consulting with an expansive capability and have confidence in our ability to grow this as we have done in previous years. The pipeline across the business is strong and as the year progresses we expect to demonstrate progress in the areas we are addressing. We have invested to ensure the Group is in a strong position to capture market share in software and consulting and consequently expect to report further progress in the year to 28 February 2015."


(1) EBITDA excludes profit on sale of PPE and share option issue costs.

(2) In our pre close trading statement on 2 Aprilexpect to report further progress ort further progress in the year to 28 February 2015."


(1) EBITDA excludes profit on sale of PPE and share option issue costs.

(2) In our pre close trading statement on 2 April 2013 we advised the company had made a provision for a potential bad debt relating to a legacy contract from the acquisition of Cognotec which was acquired in February 2010. As this is a non recurring item the increase in provision has been removed from normalised profit. The 2014 exceptional item in year relate to option issue costs.