London/22nd Oct 2002: Future Dynamics announced that its yearly revenues were up by 42% on like for like sales over the previous year as at the end of September.
The company has seen particularly strong growth in the US where revenues were up 140% over the previous year. European revenues also grew by 19% over the year whilst overheads have been reduced by 35% over the same period leaving Future Dynamics as at the start of their new financial year operating at breakeven mode and with 2m cash in the bank.
Gerald Brown, Managing Director, said yesterday, "This has been a difficult year for some financial software companies. To have achieved strong growth against such a backdrop is a significant accomplishment and vindicates our strategy of a comprehensive product set coupled with a strong services team to provide the integration with existing infrastructure, across different product classes".
"These results clearly show that our business model is increasingly being seen as the correct one for this industry. We plan to continue our expansion especially in New York and further develop the breadth of our STP product set", commented CEO Steve Grob.
"With the full support of our venture capital partner, Catalyst, we may be looking at suitable acquisitions to further our ambitions to become the supplier of choice to the global FCM community" Grob added.
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