Profits rise 27pc at NI software firm First Derivatives


24 May 201027 Views

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The Newry-based financial software provider First Derivatives has reported a 27pc rise in pre-tax profits to £5.64m for its financial year ended February 2010.

Revenues for the year rose 45pc to £25.47m from £17.54m the previous year. The company said significant investments in its Delta product suite had resulted in the release of new applications, which contributed to the continued growth in Delta sales in the second half of the year.  

“The substantial investment into First Derivatives coupled with acquisitions made during the year have increased our global coverage and extended our range of Delta software products. We are continuing to make a substantial investment in the development of the group to ensure it is positioned for both short and long-term benefits to shareholders,” said chairman David Anderson.

“We have made a strong start to the current year and expect to be able to report further progress in the year to 28 February 2011,” he added.

First Derivatives also said that since the end of the year it has signed three contracts that will generate about US$1m in annualised revenue.

Article courtesy of Businessandleadership.com