Profits up 11% at First Derivatives

Newry company First Derivatives have reported a 9% rise in revenue and a 11% rise in Gross Profit in their 2019-2020 financial year. A remarkable achievement in what was an extremely tough and stressful year for the company with the death of founder and CEO Brian Conlon in July 2019.

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Revenue for the year was  £237.8m  up from £217.4m in 2018/2019 while Gross Profit was £101.1m  up from £91.3m in 2018/2019

Highlights of the year included Software revenue up 13% to £148.4m (2019: £130.9m), driven by 23% growth in recurring software license revenue.

Significant contract wins in their core FinTech market also contributed along with progress in their drive to achieve market leadership by building out the capabilities of their solutions.

The year also saw Seamus Keating appointed as Chief Executive Officer and Donna Troy as Chairman in January 2020.