Fidessa group plc Interim Management Statement
6th November 2014
Fidessa group plc (LSE: FDSA), provider of high-performance trading, investment
management and information solutions for the world's financial community, today
issues its interim management statement for the period from 1st July 2014 to
date.
Fidessa has continued to see improvement across the markets in which it
operates and this is being reflected both in the reduced headwind from
consolidations, restructurings and closures in the customer base and also in
the current deal pipeline. In particular, increased interest has been seen in
new functionality within the core markets as well as strong demand for the
derivatives and service-based offerings. As previously reported, due to the
depth, longevity and severity of the financial crisis, the improvement being
seen is expected to be gradual and this combined with the effect of the
recurring revenue model means that modest constant currency growth is expected
for the year as a whole. Whilst the return to underlying growth is welcome, the
exceptional strength of sterling during the year is expected to more than
offset this growth and affect the reported numbers.
Looking further ahead, Fidessa believes that as stability and opportunity
return to the markets, the headwind reduction, coupled with further openings as
its multi-asset initiative gains momentum, will enable it to return to growth
levels closer to those seen in the past. Fidessa remains excited by the
potential of its service-based offerings across all asset classes and segments
of its market and believes that it will continue to play an important role as
its customers focus on efficiency, transparency, compliance and performance.
Fidessa continues to have a strong balance sheet with strong reserves, no debt,
strong cash generation and substantial levels of recurring revenue.
Enquiries:
Chris Aspinwall, Chief Executive Edward Bridges/Rebecca Flower
Andy Malpass, Finance Director FTI Consulting
www.fidessa.com Tel: +44 (0) 20 7831 3113
Tel: +44 (0) 20 7105 1000
Email: eu.info@fidessa.com
About Fidessa group
Exceptional trading, investment and information solutions for the world's
financial community.
New technology, new regulation, new challenges: making money in today's
financial markets is all about staying ahead of the curve. Having the
capability to spot new trends and act fast turns change into opportunity.
That's why 85% of the world's premier financial institutions trust Fidessa to
provide them with their multi-asset trading and investment infrastructure,
their market data and analysis, and their decision making and workflow
technology. It's also why $15 trillion worth of transactions flow across our
global network each year. Because we're the market leader, we can also offer
unique access to the world's largest and most valuable trading community of
buy-side and sell-side professionals, from global institutions and investment
banks to boutique brokers and niche hedge funds.
Fidessa is a global business with scale, resilience, ambition and expertise.
We've delivered around 25% compound growth since our stock market listing in
1997 and we're recognised as the thought leader in our space. We set the
benchmark with our unrivalled set of mission-critical products and services
and, uniquely, serve both the buy-side and sell-side communities. Ongoing
investment in our leading-edge, integrated solutions ensures Fidessa remains
the industry's number one choice.