U.K.-based First Derivatives, which supplies support services to the investment banking market and the derivatives technology industry, reported full-year results that showed a 36% rise in revenue.
The company also reported a 99% increase in operating profit to £5.2 million, and a 56% rise in earnings per share to 23.3 pence. The company attributed the results to strong demand in capital markets activities despite the turmoil across financial markets, as well as increased sales of Kx products to both new and existing customers.
"[It] was the sixth year of continuing growth for the Company and the rate of growth during the last financial year has been exceptional,” said David Anderson, chairman of First Derivatives, in a statement. “Our outlook for the year ahead is for trading to continue inline with previous trends and the further strengthening of our balance sheet. First Derivatives has had another
successful year and we have continued to grow our operations despite the recent turmoil in the financial markets. The pipeline of business from new and existing customers remains strong and the Directors expect to be able to report further progress in the first half of the year."
