Belfast Telegraph

First Derivatives reports profit rise as search continues for new chief executive

First Derivatives has developed its software for the Red Bull F1 team.
First Derivatives has developed its software for the Red Bull F1 team.
Margaret Canning

By Margaret Canning

Newry technology firm First Derivatives has said it’s continuing its search for a new chief executive following the death of founder Brian Conlon earlier this year.

The company spoke as interim results for the half year ending August 31 revealed it had increased pre-tax profits by 12% to £8.4m in the first half of the year. 

Turnover was also up by 11% from £106m to £116.7m. 

The company started out providing consulting and software services to financial institutions but in recent years has adapted its Kx software for uses including online retail and Formula 1. 

It is one of Northern Ireland’s few public companies and is listed on the Alternative Investment Market (AIM).  It has 2,400 employees. 

Mr Conlon, who was 53, died of cancer in July, around two months after the company announced that he had been diagnosed with the disease.

Executive chairman Seamus Keating said this morning: “We successfully executed on our strategy during the period, signing a number of key contracts across our business, and making strong progress towards securing landmark contracts in the markets we are targeting across industry.

Sign In

“We continue to progress our search for a new CEO following the passing in July of our founder, Brian Conlon, and we will provide an update when the process is complete.

“Our financial performance was solid, and we are encouraged by the growing momentum through the period that provides confidence in achieving another year of strong growth, in line with consensus forecasts.”

Brian Conlon from First Derivatives with his Belfast Telegraph Business Award for Businessperson of the Year 2015
Brian Conlon from First Derivatives with his Belfast Telegraph Business Award for Businessperson of the Year 2015

Belfast Telegraph Digital

Popular