Revenue increases 23% at First Derivatives

Revenue at specialist financial software company First Derivatives increased by 23.3 per cent to £27.6 million in the year to the end of August. The Newry-based consultancy firm reported operating profits of £4.1 million, a 14.2 per cent increase on the £3.6 million recorded for the same period last year.

First Derivatives said consultancy revenue increased by 30.7 per cent to £20 million. It would pay an interim dividend of 3.1p per share, up 3.3 per cent on the same time last year.

In September the software company bought three London-based businesses, spending £3.15 million on the niche firms.

First Derivatives, which employs 700 people worldwide, provides software and services to many of the world’s leading investment banks and brokers.