First Derivatives has published its financial results for the six months ended August 31, 2019, this Tuesday. During this period, the consulting firm and saw an uptick across its key business metrics.
The fiscal year for First Derivatives ends on February 29, 2020. Therefore, the six months to August 31 is the first half of the company’s 2020 fiscal year. During this period, the company reported revenue of £116.7 million ($150.5 million).
When measuring this against the same period of the previous year, which reported revenue of £105.6 million, revenue has grown by 11 per cent year-over-year. Software revenue also increased by 13 per cent, rising from £63.1 million in the first half of fiscal 2019, to £71.4 million in the most recent period.
In the first half, First Derivatives won a number of contracts across its software, managed services and consulting services. In particular, the company signed a major Japanese bank for the global roll-out of a next-generation electronic foreign exchange (forex) platform built on Kx.
First Derivatives profit increases 9%
Gros profit for the software provider also grew on a yearly comparison. In particular, it increased by 9 per cent from £43.9 million in H1 of fiscal 2019 to £48.0 million in the first half of fiscal 2020.
Source: LinkedIn
“Our financial performance was solid, and we are encouraged by the growing momentum through the period that provides confidence in achieving another year of strong growth, in line with consensus forecasts.”
For the full fiscal 2020 year, ended February 29, 2020, the Group believes consensus revenue and adjusted EBITDA to be £242.9m and £43.8m respectively, the statement said.
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