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First Derivatives annual performance meets expectations
StockMarketWire.com
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Technology provider First Derivatives said performance was in line with expectations expectations for the year to 28 February 2021.
Revenue came in at £238 million and adjusted earnings before interest, taxes, depreciation and amortisation, or EBITDA, at £40 million.
Net debt at the period end was £10 million, better than analyst forecasts and 'significantly reduced from the group's net debt of £49m a year ago,' the company said.
'The improvement in net debt is primarily driven by strong operating cash conversion, supplemented by the partial sale of our investment in Quantile Technologies for cash consideration of £11 million,' it added.
The group will announce full year results on 18 May 2021.
At 9:38am: (LON:FDP) First Derivatives PLC share price was 0p at 2800p
Story provided by StockMarketWire.com
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