| 7.2°C Belfast

Newry firm First Derivatives beats own predictions with 30% leap in sales to £151.7m


First Derivatives boss Brian Conlon

First Derivatives boss Brian Conlon

First Derivatives boss Brian Conlon

Newry software firm First Derivatives has beaten its own predictions with a 30% leap in sales in the last year to £151.7m.

Revenue at the listed company in the year to the end of February was up from £117m over the same period a year earlier — and surpassed the company’s own expectation of a rise of 23%.

Pre-tax profits were also up 20% to £12.5m.

The company, founded by Newry-born Brian Conlon, employs around 1,700 people around the world. 

It has offices in London, New York, Stockholm, Philadelphia and other global locations, while maintaining headquarters in Newry.  It also provides consulting services as well as software.

And it has adapted its Kx technology into new markets, including precision engineering and the defence sector.

Chairman Seamus Keating said: “During the year we made strong progress on our strategic objectives, while delivering a solid financial performance. Our increasing scale is leading to larger and longer-term managed services and consulting engagements and we are confident this trend will continue as we develop our service capabilities. Demand for the ultra-high analytics processing that Kx delivers continues to grow and this is reflected in a strong pipeline of opportunities across the business.”