Company Snapshot: First Derivatives plc.
Future growth for First Derivatives
First Derivatives plc is headquartered in Newry, but has 10 wholly owned subsidiaries in five different countries, including Northern Ireland, Ireland, Canada, Australia and five in the USA.
In addition, the company has a 22% shareholding in an associate company Kx Systems.
The company is one of a small number of local businesses whose shares are quoted on the Alternative Investment Market (AIM).
The company has been trading for 15 years.
Recently, the business has expanded dramatically.
In the last three years, turnover has doubled reaching an annual figure of £36m, which is earned through software sales and the provision of consultancy services.
The software activities of the business are sold either on a subscription model or on a 'Software as a Service' basis.
The principal activities are described as providing software and consulting services to the investment bank market, the derivatives technology industry, the foreign exchange market and technology sales services to the IT sector.
The annual accounts show that, on average, 455 people were employed in the last financial year. The report says that the headcount has risen further and is now 550.
Looking to performance in 2011-12, chief executive Brian Conlon anticipates further growth in a number of on-going initiatives and investments.