Financial technology firm First Derivatives has reported higher revenues and profits for the year to the end of February and said it has seen an "encouraging start" to the current financial year. 

The Newry-based company said its revenues jumped 30% to £151.7m while profits before tax rose 20% to £12.5m.

The company also said it was proposing a full year dividend 20 pence per share, up from 17 pence the previous year.

First Derivatives reported strong growth in its software revenue, which rose by 47% as a result of new contract wins and continued penetration of its existing customer base 

It said its FinTech revenue rose by 28% to £117.4m, driven by contract wins in software and the range of services provided to its global banking client base.

Meanwhile, its MarTech revenue jumped 39% to £30.7m on the back of the launch of a subscription-based Marketing Cloud platform powered by the company's 'Kx' technology.

The company's chief executive Brian Conlon said that First Derivatives saw another year of strong progress towards its strategic objectives. 

"In services we have increased the scale of our operations as well as the breadth of capabilities we provide while adding significantly to our recurring revenue base," Mr Conlon said. 

"In software we have continued to add new clients and expand within existing clients within both FinTech and MarTech, while expanding our channels to market in new industries through partnerships, internal development and OEM agreements," he said. 

"At the year end we also signed a significant new client in the Industrial Internet of Things, which continues to justify the potential we see to expand our software into other verticals," he added.

Mr Conlon said the company remains confident that it is on course to provide significant returns for shareholders by executing its strategy.