Turnover and profits up at First Derivatives
First Derivatives plc today released their interim results for the six months ended 31st August 2006.
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The principal activities of FDP are the provision of a range of support services to the investment banking market and the derivatives technology industry and the provision of its own range of e-business applications.
Financial Highlights
Turnover £4.178 million (2005: £2.744 million) + 52%Profit before tax £1.173 million (2005: £0.651 million) + 80%Earnings per share 6.2p (2005: 3.7p) + 68%Maiden interim dividend of 1.4p per share
Business HighlightsIncreased staff utilisation in capital markets activities.Further Kx sales to existing and new customers.Continuing pipeline of R&D products moving to evaluationImproved performance expected to continue during the second half of the year.
David Anderson, Chairman of FDP commented: "The Company has now reached the point where it is starting to exploit its own software products and is continuing to experience strong demand for Kx products and services to the capital markets. The Directors regard the outlook for the year as extremely encouraging."
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