FD Technologies Witnesses 16% YoY Gross Profit Growth for H1 FY23

​

FD Technologies, the global leading technology provider in the financial industry, has released its interim results for the six months ended 31 August 2022 (H1 FY23), disclosing a strong growth in KPIs.

The group's revenue during this period stood at £147.4m, increasing 15% on a yearly basis, driven by performance at KX and First Derivative both above full year expectations. Gross profit rose 16% year-over-year to £60.2m, and adjusted EBITDA was £16.0m, going up 7%, with stronger growth at KX and First Derivative tempered by a decline at MRP, the group explained.

Fazzaco Hall of Fame 2022 to Make Debut Soon​

Specifically, the revenues of KX and First Derivative businesses came in at £37.8m and £86.2m, up 19% and 22%, respectively.

Seamus Keating, CEO of FD Technologies, commented: "The Group has enjoyed a strong H1, growing revenue and profitability and laying the foundations for accelerated growth from here. In KX the momentum we have built since the launch of KX Insights is delivering results, as evidenced by the 41% growth in annual recurring revenue.

"These results demonstrate that our strategy of investing to accelerate growth is working. We have added significant value to the Group during H1 as our investments in product, systems and people are delivering. We are very well placed to continue to create value, with major growth opportunities ahead."

In May, FD Technologies reported its yearly results​ for the year ended 28 February 2022, showing a jump of 11% in its revenue.