21 August 2017
Find out more

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

26 October 2010  |  5704 views  |  0 graph

Continuing uncertainty about the macro-economic climate and upcoming regulatory changes is causing smaller trading firms to hold back on technology investment, according to vendor Fidessa.

Shares in the company were down 7.3% at £15.99 in afternoon trading on the back of the warning in an interim trading update covering the period from 1 July.

Fidessa says the uncertainty is causing small firms "to delay before committing resources to develop their business" and adds that "it is mainly within these smaller firms that we are also seeing a level of consolidation and restructuring and we expect it will continue to be a feature of the market for some time."

The vendor warns that the market will remain difficult to predict, with the "true nature" of the economy and prospective regulation remaining unclear for some time.

"Despite this, we are confident that we can deliver good growth for 2010 as a whole although, as previously stated, we do not believe that the overall rate of growth will be as high as that seen during 2009," says the statement.

Meanwhile, there is a "higher level of cost control" and a strong balance sheet with strong reserves, no debt, strong cash generation and substantial levels of recurring revenue.

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 beats estimates; warns of slower growth

Fidessa beats estimates; warns of slower growth

15 February 2010  |  4717 views  |  0 comments
Fidessa forecasts slowdown in H2 as consolidation trends hit market

Fidessa forecasts slowdown in H2 as consolidation trends hit market

23 October 2009  |  3885 views  |  0 comments
Fidessa spots first 'green shoots'

Fidessa spots first 'green shoots'

27 April 2009  |  6167 views  |  0 comments
Fidessa beats revenue/profit forecasts

Fidessa beats revenue/profit forecasts

16 February 2009  |  4749 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  |  5446 views  |  0 comments
Fidessa rises on positive first half

Fidessa rises on positive first half

04 August 2008  |  3853 views  |  0 comments

Related company news

 

Related company information

Fidessa group

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.vasco.comvisit www.worldpaymentsreport.com

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
11120 views comments | 25 tweets | 23 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
9351 views 0 | 5 tweets | 1 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
9339 views comments | 22 tweets | 28 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
9100 views comments | 19 tweets | 23 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
8961 views comments | 10 tweets | 8 linkedin