First Derivatives trades in line following strong second half

IT services management outfit First Derivatives continued to trade strongly in the second half of the financial year, leading the group to reiterate its guidance.

First Derivatives expected to report in line with the current consensus forecasts of £215.4m in revenue and £38.8m in adjusted earnings before income, tax, depreciation and amortisation for the year ended 28 February.

Back in November, First Derivatives revealed it had achieved revenue and profit growth in the first half of the year after license revenue shot up. Software revenue was up 21% as license revenue jumped 39%, led by increased demand for the company’s Kx data analysis software.

The AIM-listed outfit will report its full-year results on 21 May.

As of 1030 BST, First Derivatives shares had dipped 1.23% to 3,220p.