Royalblue H1 profit jumps

Royalblue H1 profit jumps

UK trading technology vendor royalblue is reporting a 27% increase in half year pre-tax profit following strong organic growth across its divisions.

The vendor says pre-tax profit rose to £6.1m for the six months ended 30th June 2006, from £4.8m the year before. Revenue rose 30% to £44.4m from £34.1m in H1 2005.

Royalblue says recurring revenue increased by 40% to £31.7m in the first half and now represents 71% of total revenue. Of this total £23m arose from trading, £5m from connectivity and £3m from market data.

The company's customer base increased by over 30% as a result of new product initiatives.

Chris Aspinwall, royalblue, chief executive, says the company expects current conditions to continue "driven by the increasing acceptance of Fidessa within the global markets, new business opportunities and regulatory and market changes across the regions".

In June the vendor extended its Fidessa equities trading system to include support for exchange-traded derivatives. The system now provides connectivity to Euronext.liffe, Eurex, Cbot and CME.

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