FD Technologies ends 'transformative' year as expected

6th Apr 2022 09:36

(Sharecast News) - FD Technologies said in a trading update on Wednesday that it expected to achieve its revenue and adjusted EBITDA guidance for the financial year recently ended.

The AIM-traded firm said delivery of its accelerated growth strategy - announced in May last year - remained on track, enabling its KX division to achieve its target of 25% growth in exit annual recurring revenue.

That was driven by increasing take-up of the KX Insights platform, the company reported.

Combined with the recent announcement of its strategic partnership with Microsoft, the company said it entered the new financial year in a position to build on that momentum.

"I am pleased with our financial performance and the execution of our accelerated growth strategy in what was a year of transformation for the group," said chief executive officer Seamus Keating.

"I'm excited by the opportunities across our business as we win new customers and continue to develop our offering to drive value, performance and returns."

FD Technologies said it would report results for the financial year ended 28 February on 10 May.

At 0923 BST, shares in FD Technologies were up 9.34% at 2,400p.