Fidessa group plc Interim Management
Statement
27th April 2017
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 January 2017 to date.
Whilst Fidessa continues to see structural and regulatory
drivers within the market, the increasing number of European
elections, the forthcoming Brexit negotiations and the
establishment of the new US administration are clearly creating
some uncertainty. As a result, during Q1, Fidessa has seen some
customers taking longer to make decisions than normal, but still
believes that constant currency revenue growth for the year will be
around the levels seen during 2016, with further headline gains if
sterling remains weak.
Fidessa continues to believe that it is well positioned to
benefit from the opportunities that will arise in the markets as a
result of regulatory and structural changes. Furthermore, with over
60% of its revenue derived from outside of Europe, and over 70% in non-sterling
currencies, Fidessa remains well positioned to benefit from any
continued weakness in sterling, providing further support for its
strong cash generation and dividend policy. As noted in the 2016
preliminary announcement, Fidessa anticipates that one off and
duplicate costs in respect of the relocation of its main US office
from New York to Jersey City will reduce profit after tax
margin by approximately 1% during 2017.
Looking further ahead, although it is clear that the increasing
number of European elections, the Brexit negotiations and the
establishment of the new US administration will create some
uncertainty, 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 further. 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.
Enquiries:
Chris Aspinwall, Chief
Executive |
Edward Bridges |
Andy Skelton, Chief Financial
Officer |
FTI Consulting |
www.fidessa.com |
Tel: +44 (0) 20 3727 1000 |
Tel: +44 (0) 20 7105 1000 |
|
Email:
eu.info@fidessa.com |
|
About Fidessa group
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 around $20 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’re listed on the London Stock Exchange and
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.