First Derivatives Sees 39% Profit Drop for FY2021
Fazzaco learned that First Derivatives (FD), a leading provider of products and services to the capital markets industry, has posted its financial results for the fiscal year 2021 (FY2021) ending on February 28, revealing a year on year decline in the company's financial indicators.
FD reported a pre-tax profit of £11.1 million for the FY2021, down 39 percent against £18.3 million in the previous year. The revenue and gross profits of the Newry-headquartered company, however, remained relatively unchanged with £237.9 million and £101 million, respectively. The adjusted EBITDA of FD for the period fell by 11 percent to £40.5 million compared to FY2020's £45.5 million.
However, the company improved its net debt significantly from FY2020's £49.4 million to the current £9.9 million.
Fazzaco earlier reported that First Derivatives has appointed Scott Matthews as new Chief Executive Officer for MRP, a global provider of predictive customer acquisition software and services.
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