First Derivatives confident of hitting FY forecasts

27th Oct 2010 08:15

First Derivatives, a provider of software and support services to the financial services and technology industries, reported a 5.9% increase in first half pre-tax profit and is still confident of achieving full year results in line with market expectations.Turnover rose to £17.7m for the six months ended 31 August 2010 from £11.4m the year earlier. EBITDA for the period increased to £3.9m from £3.4m a year earlier.The interim dividend has been lifted to 2.9p per share from 2.75p in 2009.Commenting on the group's transformation in the last two years chairman David Anderson said, "Over the last twenty-four months the group has...invested in R+D and infrastructure to allow it to offer software products as well as services to its client base and ensure it has a strong platform to facilitate global expansion. This major investment program has been implemented without impacting profitability and we have maintained the growth momentum of previous years."