AGM Statement

RNS Number : 3106S

First Derivatives PLC

08 July 2020

 

8 July 2020

First Derivatives plc

("FD" or the "Group")

AGM Statement

FD (AIM: FDP.L, Euronext Growth: FDP.I) issues the following statement ahead of its Annual General Meeting which will take place at 2.30pm today. The statement provides an update on the Group's progress in the current financial year for the four months ending 30 June 2020.

Total revenue was 6% ahead of the prior year period, reflecting the Group's resilience during a period impacted by COVID-19 across our operations. Managed services and consulting revenue was up 2% on the prior year period as we continued to benefit from the high visibility and repeat nature of our client engagements. As expected there has been some deferral of new project engagements, the financial impact of which to date has been partially mitigated by lower recruitment and cost management.

Software revenue increased by 8%, led by growth in recurring license and subscription revenue. This was offset by a small decline in perpetual license revenue as new software sales continue to take longer to close in the current climate.

Cash generation during the period was in line with expectations.

The Board continues to believe that it is still too soon to determine the likely outcome for the full year but is encouraged by performance to date and will continue to invest to deliver against the market opportunity. The Group remains strategically well placed and we are encouraged by the growing demand for Kx streaming analytics from potential customers and partners.

Further updates will be provided as the year progresses.

Enquiries

For further information please contact:

First Derivatives plc Seamus Keating, Chief Executive Officer Graham Ferguson, Chief Financial Officer Ian Mitchell, Head of Investor Relations	[phone] www.firstderivatives.com
Investec Bank plc (Nominated Adviser and Broker) Andrew Pinder Carlton Nelson Sebastian Lawrence	[phone]
Goodbody (Euronext Growth Adviser and Broker) David Kearney Don Harrington Finbarr Griffin	[phone]
FTI Consulting Matt Dixon Dwight Burden Darius Alexander	[phone]

About FD

FD is a global technology provider with more than 20 years of experience working with some of the world's largest finance, technology, automotive, manufacturing and energy institutions. The Group's Kx technology, incorporating the kdb+ time-series database, is a leader in high-performance, in-memory computing, streaming analytics and operational intelligence. Kx delivers the best possible performance and flexibility for high-volume, data-intensive analytics and applications across multiple industries. FD operates from 15 offices across Europe, North America and Asia Pacific, including its headquarters in Newry, and employs more than 2,400 people worldwide.

For further information, please visit www.firstderivatives.com and www.kx.com

 

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