First Derivatives says FY trading ahead of expectations

Source: First Derivatives

The Board of First Derivatives plc ('First Derivatives' or the 'Company') is pleased to announce that the Company is enjoying strong revenue growth and that trading for the year to 29 February 2008 will be ahead of current market expectations.

The strong level of demand for the Company's consultancy services, that were reported at the time of the interim results, has continued into the second half.

In addition, First Derivatives is now generating sales from various proprietary software products which the Company has been developing in recent years. These products are sold on an annual recurring licence basis.

While revenues for the year will be slightly higher than recent market forecasts, the Company has achieved higher than expected margins on services and product sales. As a result the Board anticipates that profits before tax for the year to 29 February 2008 will be above current market forecasts.

First Derivatives anticipates that the Company will release its preliminary statement of results for the year to 29 February 2008 on Thursday 15 May 2008.

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