Fidessa expects little change on previous year

Trading systems developer Fidessa said it delivered a solid performance during the first quarter of 2013 as growth from derivatives platforms, service based platforms and regional expansion offset turbulent market conditions.

Trading systems developer Fidessa said it delivered a solid performance during the first quarter of 2013 as growth from derivatives platforms, service based platforms and regional expansion offset turbulent market conditions.

"As expected, the attrition and pricing pressure seen during 2012 has continued into the first quarter which, in the short-term, makes it challenging for Fidessa to deliver the growth levels it has previously seen," it cautioned.

While the group has seen good development in its pipeline, there is still no sign of the "great rotation" from bonds into equities, the first quarter has seen a positive flow of funds into equities, said Fidessa.

"It is still too early to know whether this represents a turning point, but it reinforces Fidessa's view that a floor will eventually be reached in the decline of equity markets which will allow Fidessa's core end markets to gradually return to a more stable state," it added.

While this process may start during 2013, Fidessa said it does not believe that it will happen quickly enough to have a material benefit to 2013 revenue.

This combined with Fidessa's continued investment programme means that performance in 2013 is still expected to be similar to that seen in 2012.

The group said it continues to have a strong balance sheet with strong reserves and no debt.

CJ

Recommended

HubSpot: a tech stock set to tumble
Trading

HubSpot: a tech stock set to tumble

US tech stocks have had a fantastic couple of years. But this year is unlikely to be so bullish for high-fliers that can’t turn big profits.
18 Jan 2022
How to be better at selling stocks
Investment strategy

How to be better at selling stocks

There is plenty of advice around about buying stocks, but not so much about when you should sell. John Stepek explains the two key things to know abou…
14 Jan 2022
Share tips of the week – 14 January
Share tips

Share tips of the week – 14 January

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
14 Jan 2022
Fintech: how to profit as technology transforms banking around the world
Share tips

Fintech: how to profit as technology transforms banking around the world

Financial technology – from apps to APIs to the cloud – is rapidly transforming financial services. This will spell doom for some incumbent firms, whi…
14 Jan 2022

Most Popular

Five unexpected events that could shock the markets in 2022
Stockmarkets

Five unexpected events that could shock the markets in 2022

Forget Covid-19 – it’s the unexpected twists that will rattle markets in 2022, says Matthew Lynn. Here are five possibilities
31 Dec 2021
US inflation is at its highest since 1982. Why aren’t markets panicking?
Inflation

US inflation is at its highest since 1982. Why aren’t markets panicking?

US inflation is at 7% – the last time it was this high interest rates were at 14%. But instead of panicking, markets just shrugged. John Stepek explai…
13 Jan 2022
Tech stocks teeter as US Treasury bond yields rise
Tech stocks

Tech stocks teeter as US Treasury bond yields rise

The realisation that central banks are about to tighten their monetary policies caused a sell-off in the tech-heavy Nasdaq stock index and the biggest…
14 Jan 2022