Belfast Telegraph

Newry software giant predicts sales will soar to £144m

By Margaret Canning

Newry-based software firm First Derivatives has said it expects full-year sales to reach £144.3m - up 23% from £117m. In a trading update, the board of the plc said it expects its full-year performance to be 'moderately' ahead of expectations after a strong trading performance in the second half of the 12 months ending February 28, 2017.

The company, which started out as a specialist in financial software for banks and other institutions, has been adapting its Kx technology to other markets, including geospatial analysis and precision engineering.

First Derivatives, which was founded by Newry-born Brian Conlon, employs around 1,700 people around the world.

It reported half-year pre-tax profits of £7m.

Last month it announced an agreement with Airbus Defence and Space for the use of its Kx analytics platform for the large-scale processing of geospatial data.

It has offices in London, New York, Stockholm, Singapore, Hong Kong, Tokyo, Sydney, Palo Alto, Toronto, Philadelphia, Dublin and Belfast, as well as maintaining its headquarters in Newry.

Full year results will be reported on May 16.

Along with Belfast IT company Kainos, it's one of just two Northern Ireland companies listed on the Stock Exchange.

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