26 February 2017
visit dh.com

Fidessa reports solid full year results

14 February 2011  |  6266 views  |  0 Digital Abstract

Despite what it calls "challenges in the financial markets", trading technology vendor Fidessa has posted a 10% rise in full year revenues and 11% jump in adjusted operating profits.

The London-based company saw 2010 revenues of £262.3 million, up from £238.5 million the previous year.

Sell-side trading accounted for £133 million of recurring revenue, up from £122 million in 23009. A further £14 million came from buy-side trading, £43 million from connectivity and £23 million from market data.

On a regional basis, Asia showed the strongest growth with an increase of 22% and now represents 15% of total revenue, whilst Europe grew by 10% and represents 51% and North America grew by 5% and accounts for 34%.

The firm's adjusted operating profit - which removes the effect of a payment received for its sale of a stake in Touchpaper - was £39.8 million up 11% from £36 million in 2009. This represents an operating margin of 15.2% for the year, consistent with 2009.

Diluted earnings per share, adjusted to exclude the amortisation of acquisition intangibles, Touchpaper gains and notional interest charge, was up eight per cent to 74.4 pence.

Throughout the year, Fidessa says it signed over 100 new clients and increased its market share and claims growth could have been at least seven per cent higher if not the continued fall out from the financial crisis.

Chris Aspinwall, CEO, Fidessa, says: "Looking ahead, we believe our markets will remain difficult for some time to come, although we believe there will still be growth opportunities. In particular we are already seeing an increase in the level of consultancy we are providing, which is often a lead indicator, and we have a sound sales pipeline coming into 2011. As a result, we believe that the strength of our business will enable us to deliver further good growth in 2011, with this growth likely to be at similar levels to that which we have seen during 2010."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Fidessa to create 90 Belfast jobs after receiving £1m from Invest NI

Fidessa to create 90 Belfast jobs after receiving £1m from Invest NI

21 January 2011  |  9142 views  |  0 comments
Fidessa cautious on growth as smaller clients hold back on tech spending

Fidessa cautious on growth as smaller clients hold back on tech spending

26 October 2010  |  5577 views  |  0 comments
Fidessa beats estimates; warns of slower growth

Fidessa beats estimates; warns of slower growth

15 February 2010  |  4584 views  |  0 comments
Fidessa spots first 'green shoots'

Fidessa spots first 'green shoots'

27 April 2009  |  6061 views  |  0 comments
Fidessa beats revenue/profit forecasts

Fidessa beats revenue/profit forecasts

16 February 2009  |  4615 views  |  0 comments
Fidessa warns of declining visibility; Lehman exposure hits top line

Fidessa warns of declining visibility; Lehman exposure hits top line

20 October 2008  |  5333 views  |  0 comments
Fidessa rises on positive first half

Fidessa rises on positive first half

04 August 2008  |  3761 views  |  0 comments

Related company news

 

Related company information

Fidessa group

Related blogs

Create a blog about this story (membership required)
visit dh.comVisit contisgroup.com

Who is commenting?

Top topics

Most viewed Most shared
EBA to relax controversial PSD2 authentication rulesEBA to relax controversial PSD2 authentica...
13020 views comments | 52 tweets | 74 linkedin
RBS to become fintech fund and high street outlet for challenger banks under HMT remedyRBS to become fintech fund and high street...
8659 views comments | 40 tweets | 34 linkedin
BNY Mellon seeks blockchain experts for new emerging biz and tech teamBNY Mellon seeks blockchain experts for ne...
7151 views comments | 7 tweets | 4 linkedin
High rate of defaults hit P2P lending sectorHigh rate of defaults hit P2P lending sect...
6888 views comments | 19 tweets | 13 linkedin
hands typing furiouslyBlockchain Technology
6811 views 1 | 17 tweets | 7 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job