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.

http://www.fidessa.com/

Interims Monday 3 Aug

Half yearly report

Sharecast - Analysts at Numis downgraded their rating for trading platforms company Fidessa to 'hold' from 'buy' after the company released its first half result.

Shares in Fidessa plunged by more than 10% to 2,157p this morning after the London-listed company reported a 1.5% decline year-on-year in pre-tax profit to £19.4m.

Numis reduced its price target for Fidessa to 2355p and warned the company's outlook was more troubling than expected.

Analysts said end markets were undergoing a high degree of change which led to further closures and consolidations, and this would create headwinds in 2016.

"Our new numbers reflect increased attrition/slower revenue growth and also ongoing investment as management position Fidessa to capitalise on the degree of change in some end markets," Numis said in a note.

While Fidessa could research potential ideas of interest in the fixed income market, Numis said it would not yet model the revenue of cost impact of that.

Fidessa Group: UBS upgrades to buy, reduces target price to 2030.00p.

FIDESSA GROUP

21 Oct 2015 07:00:00



Fidessa Group PLC



Fidessa group plc Interim Management Statement

21st October 2015

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 2015 to date.

Fidessa has continued to see customer markets entering a new phase of recovery as the impact from regulatory and structural changes strengthens. This changing landscape is creating a large number of opportunities as well as some additional challenges, resulting in a high level of new business activity alongside an increased investment pipeline. As noted in the interim report, the increased competition within the customer base may lead to further closures and consolidations, and whilst similar levels of growth to those seen in the first half are anticipated for the year as a whole, this may result in a higher level of headwind into 2016.

Looking ahead, Fidessa believes that it is entering a period where significant opportunity is returning to the markets. Further strong progress with the multi-asset initiative is expected and Fidessa will continue its research into the rates segment of the fixed income market, although no decision has yet been made to provide support for this asset class. Fidessa remains excited by the potential for its service-based offerings across all asset classes and believes that there are increasingly few vendors capable of meeting customers' business requirements whilst also having the scale and infrastructure necessary to handle the latest compliance demands being made by the regulators. Fidessa believes that it will continue to play an increasingly important role as customers focus on efficiency, transparency, compliance and performance, and expects that as markets stabilise it will see a return to growth rates similar to those seen in the past.

Fidessa continues to have a strong balance sheet with strong reserves, no debt and substantial levels of recurring revenue. Strong cash generation has continued through the period and Fidessa expects to be able to announce a further special dividend with its preliminary results in February 2016. Furthermore, Fidessa does not currently believe that an investment in providing support for the fixed income asset class is likely to have a material impact on its ability to pay further special dividends in the future.

director-buying-and-fat-yield-imply-upside

4 May finnCap 1,700.00 Sell

Ten-dividend-shares-post-Brexit-world.

Dividend yield: 3.7 per cent



Fidessa provides software to investment banks, brokers and asset management firms around the world.

The software firm has some loyal customers - a considerable 85 per cent of revenue is recurring, while its renewal rates are more than 99 per cent.

Long-term growth potential is good as Fidessa's customers look to improve efficiency, cope with regulation and compliance, and bring down costs.

However, Fidessa’s markets have been difficult over the last two years as its customer base has faced headwinds, slowed spending, and in some cases merged with each other.

The company deliberately operates a very prudent balance sheet with no debt and a strong net cash position. Because the company is capital-light, it needs little of its cash flow each year, so free cash flow is regularly returned as ordinary and special dividends.

Including its regular annual special dividend, the stock’s current dividend yield is 3.7 per cent.

Half year report

1 Aug Numis 2,870.00 Add
1 Aug Panmure Gordon 2,132.00 Hold

Ex dividend Wed 17 Aug 14.3p

Thurs 18th is ex-divi date! Most divi cut-off dates are now on a Thurs.

Cheers Harry, blame shares. :-))

15 Aug finnCap 1,700.00 Sell

Interim Management Statement
RNS
RNS Number : 5543N
Fidessa Group PLC
27 October 2016
 
Fidessa group plc Interim Management Statement
27th October 2016
 
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 2016 to date.
Whilst Fidessa continues to see structural and regulatory drivers within the market, there is clearly a degree of uncertainty as a result of the Brexit vote. Although it remains too early to say what the wider implications of Brexit will be and how this might affect customer activity, Fidessa is not currently expecting that there will be any impact on the changing regulatory environment. In particular, Fidessa expects that MiFID II will be introduced as planned across Europe and that, regardless of any Brexit negotiations, it will also be implemented in the UK.  Fidessa continues to believe that it is well positioned to benefit from opportunities that will arise as a result of these changes in regulation. Furthermore, with over 60% of its revenue derived from outside of Europe, Fidessa remains well positioned to benefit from any continued weakness in sterling, providing further support for its strong cash generation and dividend policy. Overall, Fidessa expects that 2016 constant currency growth will be around the levels seen in the first half, with an expectation of further headline gains if sterling remains at its current level.
Looking ahead, although it is clear that the Brexit vote will continue to create some uncertainty for a period of time, Fidessa believes that it is entering a period where opportunity is returning to the market. Fidessa expects to continue to make progress with its multi-asset initiative and will continue to investigate the possibility of extending its asset class coverage.  Fidessa believes that across all asset classes, the market is moving towards the increased use of service-based solutions and that few vendors have both the depth of applications and the scale of infrastructure needed to deliver these solutions. Fidessa is committed to playing an increasingly important role in the markets as customers focus on efficiency, transparency, compliance and performance, and expects that this will provide it with significant opportunities for further growth.
Fidessa continues to have a strong balance sheet with strong reserves, no debt, strong cash generation and substantial levels of recurring revenue
 

27 Oct
Numis
2,920.00
Buy

04 January 2017, 09:36
Source - SMW
Fidessa group plc will announce its preliminary results for the year ended 31 December on 13 February.


At 9:36am: (LON:FDSA) Fidessa Group PLC share price was -21.5p at 2198.5p

Final Results

Highlights for the period ended 31st December 2016:
 
·      Solid revenue growth across all regions.
·      Good international spread providing stability against uncertainty following the Brexit vote and the US election.
·     64% of total revenue accounted for outside of Europe, with 73% denominated in non-sterling currency.
·      Increasing opportunities for new Fidessa services.
·      Derivatives programme continuing to build momentum.
·      Recurring revenue representing 87% of total revenue.
·      Strong cash generation, with £95.2 million cash balance after dividend payments of £32.5 million.
·      Final and special dividends declared, bringing the total 2016 payout to 92.5 pence per share.
 

Fidessa hikes divi after solid growth
StockMarketWire.com
Fidessa has hiked its dividend after solid growth in the year to the end of December.

Fidessa achieved revenue of �331.9m which represents growth on a reported basis of 12% (2015: �295.5m and 7% growth).

On a constant currency basis, revenue growth of 3% compares with 4% in 2015. Recurring revenue of �287.8m grew 14% and represents 87% of total revenue (2015: �252.5m, 85% of total revenue). Revenue for the sell-side business of �308.9m grew 13% (2015: �273.6m and 4% growth) and for the buy-side business revenue of �23.1m grew 5% (2015: �21.9m and a decline of 3%).

The group said: "Foreign currency exchange rates have been significantly more volatile during 2016 than in 2015. Sterling was 12% weaker against the US dollar and currencies pegged to the US dollar and 20% weaker against the Japanese yen.

"This has resulted in an increased variance between headline growth rates and constant currency growth rates. During 2016, 73% of revenue was denominated in foreign currencies, predominantly US dollars which accounted for 57% of revenue in the period.

"As anticipated, the revenue impact from consolidation and closures across the customer base increased to 4% during 2016 (from 2% in 2015).

"During 2016 there have continued to be further consolidations and closures, but Fidessa's current expectation is that these will have a reduced impact on revenue in 2017."

It continued: "During 2017 we plan to relocate our main US office from New York to Jersey City.

"The strength of our balance sheet enables us to fund the fit out of this facility ourselves, rather than using financing. We anticipate a cash outflow, net of landlord incentives, of approximately �12m in relation to this fit out during 2017 and approximately a 1% reduction in profit after tax margin as a result of duplicate and one-off costs associated with the move.

"The reduction in profit after tax margin is expected to impact both the first and second halves of 2017.

"Development expenditure capitalised of �30.4m was broadly unchanged from �30.3m in 2015 while net capitalisation of development expenditure of �2.9m increased from �2.5m in 2015.

"Following changes in legislation, Fidessa has implemented the research and development expenditure credit regime (RDEC) during the period.

"As a result, research and development tax credits previously offset against income tax expense are replaced by research and development grants that will be offset against operating expenses.

"The new treatment was adopted with effect from 1st January 2015 and during 2016, operating expenses have been reduced by grants totalling �1.7m."

Profit before tax for 2016 increased 25% to �48.8m, being a profit before tax margin of 14.7% (2015: 13.2%).

The profit before tax growth benefited from the positive impact of foreign currency exchange rate movements and from the RDEC grants.

Diluted earnings per share increased by 21% to 92.3 pence (2015: 76.5 pence).

The final dividend, if approved by shareholders, will be 28.2 pence and payable on 8 June to shareholders on the register on 12 May, with an ex-dividend date of 11th May 2017.

In addition, a special dividend of 50.0 pence (2015: 45.0 pence) is proposed and, if approved by shareholders, will be paid at the same time as the final dividend and brings total dividends for the year to 92.5 pence, an 11% increase from 83.5 pence in 2015.

Chief executive Chris Aspinwall said: "2016 has seen a period of exceptional change and uncertainty for our customers.

"During the year, structural and regulatory drivers have started to impact across the market and, at the same time, customers have been faced with uncertainty around how the political environment might affect their business.

"For Fidessa, however, although there was some evidence of stress during the second half of the year as firms took stock of the impact of the Brexit decision and the US election, levels of new business activity generally remained high and, when combined with the weakness of sterling, this enabled us to deliver solid growth for the year as a whole.

"As anticipated in the 2015 preliminary results announcement, we saw an increased headwind in 2016 as a result of consolidations and closures within our customer base, with this having the largest effect in the second half, particularly with regard to our sell-side derivatives business. However, based on what we can currently see, we expect that this headwind will now start to reduce.





Story provided by StockMarketWire.com

Final results

Highlights for the period ended 31st December 2017:
· Solid revenue growth across all regions.
· Good international spread with 66% of total revenue accounted for outside of Europe.
· Continued strong growth in multi-asset revenue with 10 new derivatives deals signed.
· Recurring revenue representing 88% of total revenue.
· Increasing capacity for investment in new opportunities or raised margin.
· Constant currency adjusted profit before tax increased 5%.
· Strong cash generation with £92.4 million cash balance after net outflows in the year of £10.1 million associated with the Jersey City office move and dividend payments of £36.0 million.
· Final and special dividends totalling 79.7 pence proposed, bringing the total 2017 payout to 95.0 pence per share, a total value of £36.6 million.