Write a comment
Newry based but globally active company First Derivatives have published their financial returns for 2013-2014 and the leading provider of software and consulting services have seen their turnover increase by 24% to almost £70 Million.
Contributing to this is a significant expansion in their sales capacity with a regional hub established in Singapore and additional satellite offices in Hong Kong and Japan. The also increased their software revenue by 29% and their consulting revenues by 22% as well as establishing an Asian Foreign exchange ecosystem backed by one of Japan's largest banks.
Chairman of First Derivatives, Seamus Keating commented: “The 2013/14 year has seen strong growth across the Group’s activities with total revenues up over 23.8%. The current fiscal year is set to be a pivotal year for the Group as we gain traction in the target markets for our software. We have a strong business in consulting with an expansive capability and have confidence in our ability to grow this as we have done in previous years. The pipeline across the business is strong and as the year progresses we expect to demonstrate progress in the areas we are addressing. We have invested to ensure the Group is in a strong position to capture market share in software and consulting and consequently expect to report further progress in the year to 28 February 2015.”
First Derivatives has now over 18 years’ experience working with leading financial institutions and it continues to deliver technologically advanced, award winning products and services that anticipate and respond to the evolving needs of global capital markets.
The company has it's head office at Canal Quay in Newry and was started by local man Brian Conlon.
It currently employs over 900 people worldwide and counts many of the world’s top investment banks, brokers and hedge funds as its customers. It has operations in London, New York, Stockholm, Shanghai, Singapore, Toronto, Sydney, Dublin, Newry and Hong Kong.
Write a comment
Local drivers and visitors to Newry have been reminded that they can park for up to 5 Hours for £1 at selected car parks in the city.
Newry & Mourne District Council, Newry City Centre Management and Newry Chamber of Commerce & Trade congratulated the Transport Minister Danny Kennedy for the return of the 5 hours parking scheme.
It should be a welcome boast for businesses across the City centre and will have a positive impact for local citizens, shoppers and visitors.
There are lots of reasons to come to Newry, with great shopping, services, events and dining and this scheme will coincide with the city's “Buy Local” message aimed at encouraging people to support all businesses services / outlets within the City centre.
The new tariff has been operational since the 12th April and will apply to car parks across the City centre. The scheme is expected to last for 6 months subject to ongoing assessment.
The five selected car parks are Cathedral and twin storey with 308 spaces, Basin Walk with 66, Canal Bank 2 (Beside Bus Station) with 119, Monaghan Street (beside Dunnes Stores) with 117 and New Street (opposite Sands' Mill) with 44.
This offer is on top of the free car parking spaces situated around the city including North Street Car Park and McClelland Park (Catherine Street)
Write a comment
firmus energy launched a ‘comforting’ new initiative today in Newry & Mourne, offering £1.25 million worth of ‘home comfort’ grants to qualifying households across Northern Ireland when they install a natural gas heating system.
Mayor of Newry & Mourne District Council, Councillor Michael Ruane, commented on the scheme: “We are very pleased to support firmus energy at the launch of the new ‘home comfort’ grant scheme. Residents in Newry & Mourne are able to benefit from this grant, which will deliver significant savings on fuel bills as natural gas is cheaper than oil and highly efficient. The insulation allowance provided allows families to save even more, which will help to lower household bills even further. I would encourage anyone interested in gaining some extra ‘home comfort’ to apply for a grant sooner rather than later, as there are a limited number available.”
In association with the Northern Ireland Sustainable Energy Programme (NISEP), this scheme gives homes in Newry & Mourne the opportunity to secure a cash-back grant of up to £1800 towards conversion costs, along with a package of up to £800 for home insulation, which includes free energy saving light bulbs and a free energy monitor.
Damian Dineen of firmus energy, comments: “With the financial pressures that families and individuals across Northern Ireland are facing, we are delighted to be able to offer a range of different grants and cashback schemes that can make converting to a more economic, practical and environmentally-friendly heating system more affordable.
“This new ‘Home Comfort’ grant, along with other schemes that we have available such as the ‘Gas Conversion’ grant, means that no matter what your situation is, there will be financial help available for you to convert to a new natural gas system. Everyone will receive at least £300 and up to a total of £1800 cashback, depending on their circumstances. Converting to natural gas, which remains the lowest-cost fossil fuel, will significantly reduce household bills, and the availability of these cashback schemes will mean even more people across Northern Ireland will be able to take advantage of connecting to natural gas. We would particularly welcome applications from those that are currently on Economy 7, solid fuel and those with no heating system at all.”
Damian Dineen from firmus energy, continued: “Given that almost half of heat loss in a typical home is through the walls and roof, the ‘home comfort’ scheme, which can also include insulation, will allow families in Newry & Mourne to ensure their homes are as energy-efficient as possible.
“Our existing customers in Newry & Mourne love the fact that they will ‘never run out’ of fuel and have a constant, instant supply of hot water. Those who qualify for ‘home comfort’ grants will also enjoy these benefits and, as there is no need for an oil tank or hot water cylinder, people who switch to natural gas can also have extra space in their gardens or could even ‘splash out’ on a new shower unit inside! Switching to natural gas from firmus energy makes common sense as it just takes one quick phone call to take advantage of lower fuel bills.”
Cashback grants are available to owner occupiers and private renting tenants converting their homes from a range of fuel sources, including oil, coal, LPG and Economy7 or even without a current heating system and are only available through firmus energy qualified installers.
Further information on the range of firmus energy cashback schemes that are available, including the new ‘home comfort’ grant, can be found at www.firmusenergy.co.uk or by calling 08456 08 00 88.
Write a comment
Newry Chamber of Commerce and Trade have announced their shock and dismay at the decision by Minister Mark Durkan to approve the planning application for a mixed used development at Carnbane which includes proposals for a major retail store. Northern Ireland Independent Retail Trade Association (NIIRTA) has also described the decision as disgraceful.
The site is located at lands to the south and east of the Carnbane Way/Shepherds Way Roundabout, incorporating Customs Clearance Station and lands to the rear of 7-14 Damolly Meadows, Newry and is for a mixed use development for 70 light industrial/ business units, 14 residential units, retail foodstore, a coffee shop and associated landscaping and other works.
Deborah Loughran, President of Newry Chamber of Commerce and Trade said ‘The Newry business community works extremely hard to provide an attractive and convenient retail offering in the heart of Newry City Centre. The local retail environment has changed dramatically over recent years. Global trading conditions and changing consumer habits have created a challenging environment for our retailers resulting in vacant units scattered throughout the City. Imposing this outrageous decision on the Newry business community has the potential to decimate our City Centre’.
‘This decision and indeed the Minister’s assertion that he is ‘confident the town centre can compete’ completely contravenes his own Planning Policy Statement on Town Centres First, dated as recently as February 2014. There are numerous development sites within Newry City Centre where this development could have been located. This site is not zoned for a retail food store and for the Minister to grant approval of this out of town site flies in the face of his own policies and Departmental guidelines’.
NIIRTA Chief Executive Glyn Roberts continued "We are bitterly disappointed with this decision by Minister Durkan which will result in jobs and businesses being lost in Newry City Centre. This decision is in complete contradiction to his own department's draft policy of Town Centre First"
He continued "What is the point of his department putting forward a draft Town Centre First policy if he makes decisions which put out of town locations first? Minister Durkan has ignored the views of Newry City Centre traders and instead listened to the views of developers who have no interest in the City Centre"
Both the Chamber and NIIRTA are seeking a meeting with the Minister.
Commenting on the approval of the Hill Partnership application Minister Durkan said “This will be an economic boost for the area and will bring many jobs. It will also regenerate and enhance part of the Newry Canal that runs through the site, making it more accessible to the public.
“Newry city centre is recognised as a strong shopping centre that benefits from its close proximity to the Republic of Ireland. After careful consideration I am satisfied that the strength of the city centre and the strong retail offering available, means that it can compete with this proposal and can continue to provide a wide range of shopping facilities for the people of Newry and the wider rural area.
“In planning terms this proposal conforms to the requirements of the Newry and Mourne Area Plan 2015 which earmarked this site for light industrial and residential development. The proposals include significant landscape improvements and measures to ensure the long term protection of the Spring Hill Rath, a scheduled monument.”
The Minister concluded: “This decision announced today is shaping a planning system that delivers for business, balanced with the protection of our environment. A system that builds a better environment and a stronger economy.”
The application attracted 85 objections along with two petitions of objection; one containing 688 signatures and the other 76 objections in relation to the application. Twenty letters of support were also received.
Write a comment
Finance Minister Simon Hamilton MLA has welcomed increasing indications that the private sector in Northern Ireland is driving growth in the local economy during his visit to Glen Dimplex in Newry last week.
Mr Hamilton told the latest ‘Minister on the Move’ event organised by the Northern Ireland Chamber of Commerce that it is critical that the private sector continues to propel growth in the economy due to increasing pressures on public spending.
The minister also outlined the urgent need to make progress on welfare reform so that spending on public services and assisting economic growth isn’t negatively impacted by Treasury penalties.
Speaking at the event at Glen Dimplex in Newry, Simon Hamilton said: “All too often in the past, Northern Ireland would have relied far too much on our public sector as a driver of economic growth, that is changing.
“Our economy is rebounding from the recession and what is most interesting within the reams of positive economic data is that it is quite clear that it is the private sector that is powering economic recovery.
“According to the Northern Ireland Composite Economic Index not only did our economy grow between Quarter 4 of 2012 and Quarter 4 of 2013 by 2.6%, but the growth was primarily the responsibility of the private sector. The services sector grew by 2% whilst the production sector rose by 0.8%. The public sector only accounted for 0.2% of growth in Northern Ireland. This is what we’ve aspired to see, not just the private sector recovering but also starting to see industry being the impetus behind sustainable economic growth."
The Minister continued: “This is additionally good news because, as we face into a future where public spending will be under severe strain, it is important that our private sector steps up and moves our economy forward. The Executive have major issues to grapple with when it comes to public expenditure. Many Departments are feeling pressure on their budgets.
“However, if we want government in Northern Ireland to continue to assist and underpin economic activity through infrastructure investment, procurement and attracting world class events, then my job as Finance Minister and the job of other Ministers isn’t helped by indecision on welfare reform. It is a dereliction of duty to think that tough decisions on welfare reform can be avoided. Especially so when the price to pay for doing nothing will be to strip £100million from our budget this year alone with close to a billion gone within 5 years. That is money we can’t afford to lose. It is money that we won’t be able to spend on public services like health and education, and it is money that we won’t be able to spend on aiding economic growth."
Concluding the Minister said: “Failure to show proper leadership on this issue will lead to significant challenges in public spending that will negatively affect very vulnerable people in Northern Ireland and will impact upon our ability to support and assist our recovering economy.”
Write a comment
The Commercial Director of Best Property Services, Ciara Aiken has been awarded Fellowship status by the Royal Institution of Chartered Surveyors – the independent professional body committed to upholding the highest standards of excellence in land, property, construction and environment.
Ciara has been awarded this significant accolade based on her career spanning two decades with Best Property Services, Newry.
Commenting on the award Ciara said “I am honoured to have been awarded fellowship of the RICS alongside a list of greatly distinguished fellows in the industry. I am delighted to have reached this level in the profession and consider this to be a major milestone.”
Ciara is the second employee of Best Property Services to be honoured with this status.
Brian Clarke, Surveyor at Best Property Services, was awarded fellowship status in 2012 – the duo is one of a handful in NI elite to hold the accolade and Ciara is the first women in the region to hold the award. For more information see www.bestpropertyservices.com
Write a comment
Last weeks highly successful Geotourism EXPO2014 brought hundreds of delegates to a series of events in Newry and the Mourne Cooley Gullion region.
The EXPO was designed to celebrate and promote the tourism potential of the Mourne Mountains, Ring of Gullion and Cooley Peninsula region and was hosted by Mourne Cooley Gullion Geotourism. The project is part-financed by the European Union’s European Regional Development Fund through the INTERREG IVA Cross-Border Programme.
The event was hosted at the Canal Court Hotel and Bellurgan Park.
Mr Danny Kennedy, Minister for Regional Development and Cllr Dáire Hughes, the new Mayor of Newry and Mourne, both highlighted the significant potential for tourism growth across the region when they launched the EXPO at a special lunchtime gathering at the Canal Court Hotel on Wednesday, 18 June.
The three day EXPO featured geology and archaeology lectures and talks, business sessions, a trade exhibition, and a networking event for businesses across Mourne Cooley Gullion and a series of Field Trips.
On Thursday, 19 June, Mr Fergus O’Dowd, the Irish Minister with responsibility for Natural Resources, formally launched the new Bedrock Geology Map of Ireland alongside key figures from the Geological Survey of Ireland (GSI) and the Geological Survey of Northern Ireland (GSNI).
Over 200 guests enjoyed a Cultural Gathering and networking event at Bellurgan Park in Co Louth, while delegates were able to sample attractions and delights of the region through a series of Field Trips.
The aims of the programme of events were to enhance knowledge and understanding of the region’s unique Geotourism potential as well as cultivating links for local businesses in the tourism sector.
The Geotourism Manager John Devaney hailed the EXPO as a success which brings an added focus to the significant tourism potential across the region: ‘We are delighted with the success of EXPO2014 and the particularly the attendance and support for our programme of events. It is important that we continue to build the tourism profile of the three areas in one region, and this was ideal platform to showcase what we are doing in relation to the landscape, geology and archaeology. We hope to continue to build awareness of our programme and to provide networking forums for business and other events for the general public to promote this project and the tourist potential of the region.”
For more information on the project and details of future events visit www.mournecooleygullion.com or you can follow them on facebook and twitter.
Write a comment
First Minister, Peter Robinson was Guest Speaker at Newry Chamber of Commerce and Trade’s Gala Dinner held in the Canal Court Hotel on Wednesday night.
President Deborah Loughran stated, ‘Newry Chamber was delighted with the success of this important and prestigious event. We welcome the First Minister’s very positive comments about the Newry business community and the offer of support from the Executive in further developing the local economy’.
This high profile event was sponsored by CRASH Services and the Canal Court Hotel. It was attended by dignitaries, government decision makers and distinguished guests including Minister Danny Kennedy, Conor Murphy MP, Mayor Daire Hughes, Bishop John McAreavey, MLA’s, Councillors and local business leaders.
At the event, President Deborah Loughran made presentations to immediate past President Cathal Austin and Executive Member, Jerome Mullen for their commitment to Newry Chamber of Commerce.
Speaking at the event the First Minister Peter Robinson said: “The Northern Ireland Executive has made growing our economy its number one priority and we will continue to explore all opportunities to create economic growth. An improving economic climate in Great Britain and the Republic of Ireland are certainly welcome developments for the local economy but particularly for Newry, making it one of the most attractive and important locations for jobs in Northern Ireland.
“Newry people and Newry businesses have been at the forefront of putting Northern Ireland on the economic map for investment in the past and I am confident this will continue well into the future.
“Local success stories such as First Derivatives, Norbrook, Glen Dimplex, MJ Marine and FM Systems have made Newry a corporate hub on the international stage attracting foreign direct investment and helping Northern Ireland to deliver our key goals and commitments in our Programme for Government and Economic Strategy.
“I commend the work of the Newry Chamber of Commerce on the valuable work it does to create business growth, create employment and promote tourism in the Newry area and wish it continued success.”
Write a comment
"At the moment Australian financial markets are regulated by software produced in this building" With one short line First Derivatives CEO Brian Conlon puts into perspective the global reach of a home grown business in the small city of Newry on the globally small island of Ireland.
Brian was joined today by First Minister Peter Robinson and Deputy First Minister Martin McGuinness along with local business people and politicians at First Derivatives Headquarters at Canal Quay in Newry to announce 484 new jobs for the city made possible by an offer of £3.9 Million from Invest NI.
The increase in headcount will enable First Derivatives to continue the expansion of its software and consulting business. This sustained growth ability is possible due to its range of business propositions like its innovative Near Shore services that have proven popular with customers who see the joint benefits of reduced cost and swift access to high calibre capital market consultants that traditional outsourcing methods often fail to provide.
Speaking at the announcement First Derivatives CEO Brian Conlon said "This is a good news story for Newry, It's 484 jobs. We have to create these jobs, these jobs aren't replacing jobs elsewhere. The fact that we can create 484 jobs, that makes me very proud that we are making a difference to our community and making a contribution to our local economy.
"We operate on a global scale we have offices throughout the world but those offices are primarily driven by people from this part of the world. We have people working is Singapore, Toronto, Johannesburg, Dubai, any financial centre you care to name but the journey always starts here, it starts in Newry!
"We have people here supporting banks all over the world from Newry, from this building. One example, one of the biggest investment banks in the world, Morgan Stanley have 35 people in this office.
"Four or five years ago we started developing our own software and the sort of things we do now is absolutely amazing. At the moment the Australian financial markets are regulated by software produced in this building, so if someone is trying to pump the mining stock, if there is some spoofing going on in the Australian markets, the software to identify those problems was built here
"When I go abroad now I don't talk about Newry I talk about 'Silicon Canal' Newry is the heartbeat of the company. We are proud of being from here and we are proud of the fact that we are able to contribute to the local economy and create these jobs. The reason why we are here is because, it's the quality of the local education system, We can get people with background in mathematics, we take them here, we train them, but it's their personality and the attitude which sets us apart."
Concluding Brian added "I'd like to thank Invest NI. The money we receive from Invest NI is absolutely crucial in creating these jobs. Without that money this would not happen. Some of the softer things that Invest NI provide around the world in terms of support in the far flung regions where we don't have a presence, so we go on trade missions with them, their people in the far flung outreaches help us establish links on the ground and we have a lot to thank Invest NI for in terms of our global expansion."
Brian also acknowledged the support provided over the years from local politicians and Enterprise Agencies.
Speaking at the announcement First Minister Peter Robinson said "The announcement today of 365 additional jobs at First Derivitives and 119 jobs at MRP is a fantastic good news story for Northern Ireland but especially for the company and for the city here in Newry, so my congratulations to Brian and to Kevin, to the whole team that there is here at First Derivatives and MRP, for the work that they've been doing and it can only be done on the back of the success of those who are already in the positions here in First Derivatives and those who are working in MRP. You don't get more jobs, you don't grow, unless the work that you are doing is of the standard that is required, and amongst the people who are the clients of First Derivatives. We are enormously supportive of what you are doing."
Deputy First Minister Martin McGuinness added "This is a tremendous news story for Newry. I have always maintained that what is absolutely key also to ensuring that we continue to reduce the unemployment levels that are unacceptably high, is the contribution made by our own indigenous businesses and this is an example of an indigenous business which has a global reach and that is down to the intelligence, the determination and the commitment of people like Brian and Kevin and the workforce to putting this company and the subsidiary MRP effectively on the world stage.
"They are now on the world stage, providing vitally important financial services for companies and banks and others all over the world, and thats incredible given that Newry is such a small place. This isn't Belfast, this is a place somewhat removed from what is happening there."
Concluding Deputy First Minister McGuinness said "A great day for Newry, a great day for the whole of Ireland giving the contribution that this company had made to putting all of us effectively right up there with the best in the world. Well done."
Welcoming the new jobs, Enterprise, Trade and Investment Minister Arlene Foster said: “One of Invest NI’s key objectives is to support the creation of high value jobs with salaries above the Northern Ireland average, such as those being created by First Derivatives today, as these will ultimately help to rebuild and rebalance our economy.”
Concluding the proceedings Kevin Cunningham, First Derivatives Board Member and Managing Director of MRP (Market Resource Partners) a subsidiary of First Derivatives commented "From this office, from Northern Ireland we have operations here that allow us to provide marketing services for global tech companies like Cisco, Dell, HP in over 50 countries and 15 plus languages. It's pretty amazing from this little town."
 |
 |
 |