Results

Interim Results announced

7 Nov 2017 | , ,
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FD (AIM:FDP.L, ESM:FDP.I) today announces its results for the six months ended 31 August 2017.

Financial Highlights

Revenue £87.8m (H1 2017: £72.4m)+21%
Adjusted EBITDA* £16.1m (H1 2017: £13.6m)+19%
Adjusted** profit before tax £11.4m (H1 2017: £10.1m)+13%
Profit before tax*** £6.3m (H1 2017: £7.0m)-10%
Adjusted** fully diluted EPS 34.4p (H1 2017: 29.0p)+19%
Interim dividend 7.0p per share (H1 2017: 6.0p)+17%
Net debt £13.1m (FY 2017: £13.5m) 

Business Highlights

  • Strong growth in software revenue, up by 32% to £52.2m (H1 2017:£39.5m), with recurring software revenue up by 44% to £19.6m (H1 2017: £13.6m)
  • Strong demand and strategic progression in Managed Services and Consulting with revenue growth of 8% to £35.6m (H1 2017: £32.9m)
  • FinTech revenue up 18% to £66.8m (H1 2017: £56.7m), driven by 32% increase in recurring software revenue within our global banking client base
  • MarTech revenue up 30% to £18.3m (H1 2017: £14.1m), with growth accelerating in the second quarter following the launch of the latest version of our predictive analytics platform
  • Signed initial contracts in multiple new sectors including sensor data management, telecoms, healthcare and retail
  • Hired 386 graduates calendar year-to-date to assist in the delivery of growth across the Group, up 66% on the same period last year
  • Post period end, announced major investment in Kx to put machine learning at the heart of future R&D developments, strengthening Kx’s competitive position and opening up new markets
  • Strong pipeline and positive start to the second half of the financial year, with full year financial performance expected to be slightly ahead of the Board’s expectations.

*Adjusted for share based payments and acquisition costs

**Adjusted for amortisation of acquired intangibles, share based payments, acquisition costs, finance translation income/charges (and exceptional taxation for EPS)

***Includes foreign currency translation loss and deferred consideration on prior acquisitions

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Interim Results announced

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First Derivatives today announces its unaudited results for the six months ended 31 August 2018. Strong growth in software revenue, up 21%, with license revenue up 39% driven by increased demand for Kx technology across our client base. Continued strong demand within our managed services and consulting activities resulting in revenue growth of 19%. Accelerated investment across the business in R&D, sales and marketing and software delivery in response to growth in the Kx sales pipeline across multiple industries.