Technology provider, First Derivatives (LON:FDP) has released its latest financial results, showing an improved outlook for H2 2017 that looks to record better-than-expected revenues and other profits for the remainder of the fiscal year, according to a group statement.
First Derivatives recently reported its earnings for the first half of the 2017 fiscal year, ending February 28, 2017 – the findings suggest that the duration of the year would bolster a heightened outlook for the group, given an improving performance in revenues. As such, the group expects to see a total of $185.1 million (£144.3 million) in revenues during 2017. First Derivatives is slated to release its full-year figures on May 16, 2017.
L1ght Secures $15m Seed Funding to Fight Against Online ToxicityGo to article >>
In addition, First Derivatives is portending an EBITDA of $35.3 million (£27.5 million) for 2017. The group expects a positive performance that is attributed to improved trading performance and volatility during the latter half of 2016. During this period, markets were in a state of flux, bucking seasonal trends that have helped buoy financial results.
Looking past its earnings release, First Derivatives is also making inroads in its efforts to augment its market presence beyond Wall Street banks. Earlier this year, the group inked several long-term partnerships with Business Growth Fund (BGF), a UK investor in small- and medium-sized businesses, to utilize its high-performance database, Kx.
Furthermore, First Derivatives also collaborated on a deal outside of the financial services space, extending its product suite to Airbus’ defense and space unit in France.