From Chief Executive, Brian Conlon’s Statement
This has been another monumental year for FD, with revenue growth of 30%, reported profit before tax growth of 20% and adjusted EBITDA growth of 24% being delivered alongside an investment programme designed to bring our technology to new markets such as pharma, Internet of Things (“IOT”) and space.
Our Software division, branded as KX technology (“KX”), grew by 47% powered by 55% growth in FinTech and 39% growth in MarTech, where our offering is delivering on early potential. We are making substantial investments in R&D, marketing and direct and indirect sales channels in order to bring our technology to new markets. Recent announcements relating to strategic partnerships and contract wins are evidence that the power of KX has applications beyond its Capital Market beginnings.
FD’s software, KX, allows organisations to meet the most demanding data challenges they face. In recent years, KX has established a leading position within banks for market data capture and analytics with the Group now targeting a range of other markets and industries where it believes KX will provide compelling return on investment. Our brand awareness has been significantly raised with a website revamp (www.kx.com) and our alignment with Porsche as a result of a 2 year sponsorship deal. KX and Porsche are both premium brands associated with power, speed and precision engineering.
Our software solutions, for all end use cases, are based on a common technology platform, driven by a single R&D team and pooled 24/7 global support. This approach generates significant economies of scale, reduces time to market for new products and provides operational leverage given the low incremental cost of acquiring and supporting new customers. Our two key strategic goals for software are firstly to increase the use of KX within financial services, building on the successful deployments of the technology to date; and secondly, use the KX platform to enter additional markets where data challenges are increasing and existing solutions are unable to cope effectively.