FD Technologies FY 2022 Pretax Profit Fell After Rise in Costs; Achieves Key Performance Indicators

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By Kyle Morris

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FD Technologies PLC said Tuesday that fiscal 2022 pretax profit fell due to acquisition and nonoperational-related costs, but that it achieved its key performance indicators set out for the period.

The financial-software and consulting company–previously called First Derivatives–said pretax profit for the year ended Feb. 28 was 9.0 million pounds ($11.1 million) compared with GBP11.1 million a year earlier.

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Revenue for the period was GBP263.5 million compared with GBP237.9 million a year earlier.

For fiscal 2023, the company’s guidance is for revenue in the range of GBP290 million-GBP300 million and adjusted earnings before interest, taxes, depreciation and amortization in the range of GBP36.5 million-GBP38.5 million.

“KX, which was the principal focus of our investment in the year, delivered our target ARR growth, and enters the new financial year with increased momentum from our partnership with Microsoft enabled by the launch of our cloud native KX Insights platform,” Chief Executive Seamus Keating said.

Shares in the company at 0716 GMT were up 150.00 pence, or 6.7%, at 2,395.00 pence.

Write to Kyle Morris at [email protected]

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Credit: www.marketwatch.com /

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