First Derivatives pre-tax profits up 24%

First Derivatives, a leading provider of software and consulting services to the capital markets industry, posts adjusted pre-tax profits of £4.5m for the six months to the end of August, 18% up on last time.

Revenues were 9% higher at £37.5m and profit before tax was 24% up at £3.7m.

Chairman Seamus Keating said: "The high revenue visibility in our consulting division combined with the software deals we are working on or have signed during the first half of the year underpin our confidence in meeting market expectations for the full year. The second half has started strongly across the Group, both in terms of business performance and growth in our sales pipeline.

"We expect a modest enhancement to adjusted earnings in the current year from the Kx Systems transaction, with greater impact in the year to February 2016, despite increasing investment in Kx to maximise its growth potential.

"In summary, the Group is well positioned to deliver in the current year and beyond with numerous business development opportunities to accelerate our growth. We view the future with confidence."

At 8:08am: (LON:FDP) First Derivatives PLC share price was -29p at 1278p

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