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First Derivatives revenue jumps by a third in H1

The company said strong growth across key industry segments contributed to the good performance
The company said strong growth across key industry segments contributed to the good performance

First Derivative saw a 34% boost in revenue to £72.4m (€80.6m) in the six months to the end of August, when compared with the same period last year.

In its half-year results, the UK-headquartered technology provider also had a 52% increase in profit before tax, which stood at £7m for the period.

The company said strong growth across key industry segments contributed to the good performance.

Managed services and consulting revenue grew by 21% to £43m during the period, driven by the full-year impact of increased consultant numbers and a number of managed services contract wins.

Earnings after day-to-day expenses (EBITDA) were 26% higher at £13.6m, while net debt at the end of August stood at £16.3m.

The company has also invested heavily, including a number of key strategic appointments in response to market opportunities.

First Derivatives Chairman Seamus Keating said the firm “delivered on our strategy in a number of important areas; winning larger, multi-year contracts in managed services and consulting, extending the capabilities of our software and, through additional investment in sales, marketing and people, laying the foundations for further growth”.

The company expects the current strong performance to continue for the full year.