FD Technologies shifts to a pre-tax loss in the first half of 2022 on higher costs; Back guidance


By Michael Susin

FD Technologies PLC on Tuesday announced a pre-tax loss for the first half of fiscal 2022, as it recorded higher costs due to the company’s growth strategy, and reiterated its forecast for the full year .

Financial software and consulting firm – formerly known as First Derivatives – recorded a pre-tax loss for the six-month period ended Aug. 31 of 1.6 million pounds ($ 2.2 million) compared to profit of 7.4 million sterling for the same time of year. earlier. Turnover increased from £ 119.6million to £ 128million.

Adjusted profit before interest, taxes, depreciation and amortization fell 31% to £ 14.9million as the group invested to boost its KX software business.

FD Technologies reiterated its revenue forecast of between £ 255m and £ 260m for the year and Adjusted EBITDA of between £ 31m and £ 33m. This compares to £ 237.9million and £ 40.5million respectively for the fiscal year ended February 28, 2021.

“The outlook across all of our businesses is positive, with each business unit expected to meet or exceed its growth target for the full year,” the company said.

Shares at 3:29 p.m. GMT rose 35 pence, or 1.7%, to 2,050 pence.

Write to Michael Susin at [email protected]

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