First Derivatives pre-tax profits up 29%

Pre-tax profits at software and consulting services provider First Derivatives rose by 29% to £7.9m in the year to the end of February.

Turnover was up 24% at £69.9m and earnings before interest, tax, depreciation and amortisation rose by 19% to £12.2m.

The final dividend of 9.0p per share (2014: 8.4p) takes the full year payout to 12.2p - up 6%.

Chairman Seamus Keating said: "The 2013/14 year has seen strong growth across the Group's activities with total revenues up over 23.8%. The current fiscal year is set to be a pivotal year for the Group as we gain traction in the target markets for our software. We have a strong business in consulting with an expansive capability and have confidence in our ability to grow this as we have done in previous years.

"The pipeline across the business is strong and as the year progresses we expect to demonstrate progress in the areas we are addressing.

"We have invested to ensure the Group is in a strong position to capture market share in software and consulting and consequently expect to report further progress in the year to 28 February 2015."

At 9:20am: (LON:FDP) First Derivatives PLC share price was -61.75p at 1008.25p

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