First Derivatives - Interim results for the six months ended 31 August 2011

19 October 2011

First Derivatives (AIM: FDP.L, IEX:FDP.I), a leading provider of software and consulting services to global investment banks and hedge funds, today announces its results for the six months ended 31 August 2011.

Financial Highlights

• Turnover £22.4m (2010: £17.7m) +26.2%
• EBITDA £5.0m (2010: £4.2m) +21.1%
• Operating profit £3.6m (2010: £3.1m) +14.3%
• Profit before tax and associate income £3.3m (2010: £2.8m) +16.2%
• Pre-tax profit £3.4m (2010: £3.2m) +5.1%
• Earnings per share 16.3p (2010: 15.6p) +4.5%
• Net Assets £29.0m (2010: £21.7m) +33.4%
• Interim dividend of 3.00p per share (2010: 2.90p) +3.4%

Business Highlights

• Growth across all parts of the business
• Significant increase in Software transactional/recurring revenue streams (+51.6%)
• Increasing pipeline for Software products with additional new products in development
• Three new Consulting initiatives launched in period contributing to strong performance

David Anderson, Chairman of First Derivatives commented:

“We have continued to invest in the Group’s activities, the benefits of which are starting to show through. We have signed a number of contracts during the period which will start to become revenue generating in the second half and we have a healthy pipeline of prospects. Despite a background of market turbulence we have made a strong start to the second half and expect to report profits for the year in line with market expectations.”

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