19 February 2018
visit www.nextgenbanking.co.uk/

Royalblue reports profits down, conditions "easing"

09 February 2004  |  3252 views  |  0 Royalblue reports profits down, conditions "easing"

UK trading technology vendor royalblue is reporting a five per cent drop in operating profit and one per cent fall in turnover for the year ended December 2003.

Revenue has decreased by one per cent to £56.5 million (2002 £57.0 million) with fidessa licence rental revenue growing by 32%, service-managed fidessa revenue growing by 77% and consultancy revenue declining by 25%. Operating profit before exceptional items decreased five per cent to £7.8 million (2002 £8.2 million).

The company forecasts an easing of the difficult trading conditions which have characterised the last three years, but warns that the business climate is likely to remain tough into the first half of 2004.

"However, we believe that a return to growth of both revenue and profit will be possible for the year as a whole," says the firm in a trading statement. "We also believe that this growth will continue to be led by substantial growth in high quality recurring revenue from our fidessa services and we expect to see growing momentum developing as a result of our new propositions and in particular our fidessaExpress connectivity business."

This will mean a further period of significant investment as royalblue raises its spending on fidessaExpress, the fidessa workstation and the remote broker network.

Says the firm: "In addition to the software development, we expect further costs of £1.1 million in 2004 as a direct result of the investment in the infrastructure, exchange agreements and the specialist staff required for these initiatives."

By mid-morning, the shares were trading down 3.3% at 553.5 pence, 19 pence off the weekend close of 572.5 pence.

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

Durlacher rolls out royalblue's fidessa

Durlacher rolls out royalblue's fidessa

19 January 2004  |  4011 views  |  0 comments
Lava Trading extends royalblue lawsuit

Lava Trading extends royalblue lawsuit

12 December 2003  |  6742 views  |  0 comments
Jarvis replaces KTS' QuoteTerminal with royalblue's fidessa

Jarvis replaces KTS' QuoteTerminal with royalblue's fidessa

28 October 2003  |  3572 views  |  0 comments
Royalblue adds Sets and RSP interfaces to fidessa Workstation

Royalblue adds Sets and RSP interfaces to fidessa Workstation

15 October 2003  |  4924 views  |  0 comments
Royalblue upgrades Fidessa for UK equities market

Royalblue upgrades Fidessa for UK equities market

11 September 2003  |  3858 views  |  0 comments
Royalblue clinches Merrill Lynch US trading deal

Royalblue clinches Merrill Lynch US trading deal

09 September 2003  |  4138 views  |  0 comments
Revenue and profits dip as royalblue looks to recurring income

Revenue and profits dip as royalblue looks to recurring income

28 July 2003  |  3671 views  |  0 comments

Related company news

 

Related company information

Fidessa group

Related blogs

Create a blog about this story (membership required)
visit www.nextgenbanking.co.ukVisit www.vasco.comvisit www.ebaday.com

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
11366 views comments | 16 tweets | 12 linkedin
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
8920 views comments | 15 tweets | 13 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
8805 views 10 comments | 22 tweets | 26 linkedin
Aussie real-time payments platform goes liveAussie real-time payments platform goes li...
8757 views comments | 15 tweets | 43 linkedin
hands typing furiouslyHow can Blockchain Help with AML KYC
8163 views 4 | 9 tweets | 6 linkedin

Featured job

Competitive base + commission + benefits
London, UK

Find your next job