R and D spend to slow short-term growth at Fidessa

Fidessa, the software provider focused on the financial community, reckons things will remain tough for its clients for some time, and expects some of them to leave the market altogether.

Despite the challenging conditions that have persisted within the financial markets, Fidessa continued to deliver growth during the first quarter of 2012. Progress has been made across the regions, particularly with larger customers as they seek strategic partners with scale, vision and resource to support their broadening needs.

Though it expects market conditions will remain difficult for some time to come, that is not stopping Fidessa from increasing development spend, both in terms of actual product development and also in terms of investment in the infrastructure and expertise required to support new opportunities.

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As stated in the preliminary results in February 2012, as a result of this investment and the ongoing market conditions, Fidessa believes that while it can continue to deliver growth in 2012, this growth is likely to be at levels which are lower than those seen in 2011.

JH